Embarq CDS Tighten On Merger News

Five-year credit default swaps on telecom concern Embarq Corp. pulled in by 198 basis points yesterday to settle at 220 bps, according to Markit data, after phone company CenturyTel agreed to buy its Overland Park, Kansas-based rival.

  • 28 Oct 2008
--Katy Burne

Five-year credit default swaps on telecom concern Embarq Corp. pulled in by 198 basis points yesterday to settle at 220 bps, according to Markit data, after phone company CenturyTel agreed to buy its Overland Park, Kansas-based rival.

The structure of the USD11.6 billion all-stock deal was not outlined, ...

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