Panrico LCDS auction result

Spanish doughnut maker, Panrico, recently had its European loan credit default swap (ELCDS) auction which set a final price of 8.125 on November 23, 2011. There were 5 participants (Credit Suisse, Goldman Sachs, JP Morgan Chase, Morgan Stanley and Royal …

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American banks reacting to Italy

American bank credit default swaps are soaring in response to Italian contagion fears. They have previously released details about their individual exposures to Italian sovereign and/or corporate or related debt which range from over $6 billion in JP Morgan’s case …

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Australian creditors left with bitter taste

The Australian brewer of the county’s most popular Victoria Bitter (VB) beer, Foster’s Group, has seen its credit default swaps rise after British-South African brewer SAB Miller launched a hostile bid to takeover the company. As reported in Bloomberg,…

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Are Canadian banks the safest in the world

While pricing data and quotes on Canadian bank CDS is somewhat spotty (which itself could be interpreted as a signal of market strength since liquidity is often driven by demand, especially to protect from default, or alternatively as an area …

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Large American bank CDS prices

An update on some of the large American bank CDS prices which are rising again on continued concerns over European sovereign debt exposures (in addition to a plethora of other worries):

Citigroup 147 bps

Bank of America 169 bps

Goldman …

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Weekly: France most active last week

France came out as the most active name last week albeit in a week of lower-than-usual industry volumes. France saw almost $2.4 billion in gross notional trade for the week ended May 6, 2011. Meaningful credit default swap trades …

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Weekly: Italy unseats Spain

Italy edged out Spain for most active credit default swap based on weekly volume for the week ended April 29, 2011. It was the first time Spain has not been on top in two months, though overall volumes for …

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Honeywell joins list of companies pricing loans with CDS

Honeywell International recently filed an 8-K statement with the SEC informing investors of the details of a new 5-year $2.8 billion credit line with several banks including Citibank, JP Morgan Chase, Bank of America, Barclays Bank, Deutsche Bank, Goldman Sachs, …

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Weekly: TEPCO powers up the swap markets

Japanese nuclear energy company, Tokyo Electric Power (or TEPCO) exploded onto the most active list for the first time ever during the week ended March 18, 2011. Not surprisingly, the reason for the activity was all related to investors …

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Weekly: Clariant CDS bubbles higher

Swiss-based chemical maker, Clariant, saw a record amount of credit default swap activity for the week ended February 18, 2011. In the company’s second appearance on the active list this year (the first being February 18, 2011), a …

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