Visteon CDS valued at around 4.75 pct in auction


NEW YORK, June 23 (Reuters) - Sellers of protection against bankrupt auto parts supplier Visteon's bonds will need to pay buyers around 95 percent of the insurance they sold, based on the initial results on an auction on Tuesday to determine the value of its credit default swaps. Credit default swaps on Visteon's unsecured debt were valued at around 4.75 cents on the dollar, while contracts protecting the automaker's loans were valued at 40 cents, said auction administrators Creditex and ...

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