CDS On Cement Maker Gap Out

19 Jun 2009

Five-year credit default swaps on Germany’s HeidelbergCement widened 2 percentage points to 11% upfront after Moody’s Investors Service downgraded the company’s outstanding bonds and it announced a USD12 billion refinancing agreement with its lenders.

Five-year credit default swaps on Germany’s HeidelbergCement widened 2 percentage points to 11% upfront after Moody’s Investors Service downgraded the company’s outstanding bonds and it announced a USD12 billion refinancing agreement with its lenders. CDS tightened 7.5 basis points to 786 bps after HeidelbergCement said it had agreed ...

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