Ambac Auction Sees Initial Result Of 27.5

The first round of bidding on the Ambac Assurance Corp. auction landed at 27.5 this morning, according to a Web site jointly run by Markit Partners and Creditex. This means protection sellers will likely have to pay out around USD0.725 on the dollar for credit default swaps sold on the holding company that triggered the CDS in March.

  • 04 Jun 2010

--Eleni Himaras

The first round of bidding on the Ambac Assurance Corp. auction landed at 27.5 this morning, according to a Web site jointly run by Markit Partners and Creditex. This means protection sellers will likely have to pay out around USD0.725 on the dollar for credit default swaps ...

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All International Bonds

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4 Barclays 25,009.79 63 6.22%
5 Deutsche Bank 22,679.02 69 5.64%

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1 Goldman Sachs 1,607.28 5 23.03%
2 Credit Suisse 1,301.65 4 18.65%
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