CDS Sellers Of Glitnir Bonds Face USD2B Payout

05 Nov 2008

Sellers of credit default swaps on Iceland’s Glitnir Banki face a potential payout of USD2 billion, based on provisional valuations.

Sellers of credit default swaps on Iceland’s Glitnir Banki face a potential payout of USD2 billion, based on provisional valuations. That means CDS dealers could shell out 98 cents on the euro, slightly less than the 98.75 cents determined Tuesday at the auction of another Iceland bank, Landsbanki. ...

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