Final prices set for settlement of credit default swaps referencing R.H. Donnelley subsidiaries

By Angela McDaniels

Tacoma, Wash., June 24 - Markit and Creditex said the final price of R.H. Donnelley Inc. loans was determined to be 78.125 for the purpose of settling loan-only credit derivative transactions.

Auctions to settle credit default swap transactions referencing the company, Dex Media East and Dex Media West were held Wednesday.

The final price was 77.25 for Dex Media East and 82.875 for Dex Media West.

The auction to settle CDS transactions referencing parent company R.H. Donnelley Corp. was held June 11. The final price was 4.875.

As previously reported, Markit LCDX index dealers voted to run the auctions after R.H. Donnelley filed for bankruptcy. The company is a constituent of series 8, 9, 10 and 12 of the Markit LCDX index.

Markit and Creditex administered the auctions under rules written by the International Swaps and Derivatives Association, Inc.

R.H. Donnelley is a Yellow Pages and online local commercial search company based in Cary, N.C. It filed for bankruptcy on May 29, and its Chapter 11 case number is 09-11833.

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