Cemex CDS Case Needs External Committee

11 Nov 2009

The International Swaps and Derivatives Association’s delay in deciding whether a restructuring of Cemex’s USD15 billion debt constitutes a credit event means trading in the Mexican cement maker’s credit default swaps will remain frozen, as it has been for the past month.

The International Swaps and Derivatives Association’s delay in deciding whether a restructuring of Cemex’s USD15 billion debt constitutes a credit event means trading in the Mexican cement maker’s credit default swaps will remain frozen, as it has been for the past month. Last Friday, ISDA’s Americas Determinations Committee ...

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