Macroeconomy/Finance

Insurers for default auctioned $1.5 bn

Creditors who had taken out Credit Default Swaps (CDS) if Argentina failed to meet its obligations were paid last Friday. About $1.5 billion auctioned off. The recovery value of the defaulted bonds was placed at $31.5, CDS holders charged $68.5 for each note. Eleven banks participated.

Source: Ámbito

Categories: Macroeconomy/Finance