Hawaiian Telecom faces loan CDS auction
The International Swaps and Derivatives Association will publish terms for a cash settlement auction on loan credit default swaps (LCDS) referencing Hawaiian Telecom over the coming weeks.
The Honolulu-based communications company, which is included in series 8-10 of the Markit LCDX index, filed for Chapter 11 bankruptcy protection in early December.
It is the second LCDX credit event triggered in under a month. On November 18, dealers voted for a cash settlement auction on Canadian door
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