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Norske Skog CDS auctions bring final prices of 29.625, 27 and 12
By Wendy Van Sickle
Columbus, Ohio, June 23 – Norske Skogindustrier ASA’s credit default swap transactions of varying maturity buckets were settled by auction on Wednesday, according to a Creditex and Markit notice.
The final price for the company’s bucket 2 was 29.625. The final price was 27 for bucket 3 and 12 for bucket 4. Ten dealers submitted initial markets, physical settlement requests and limit orders to the auction administered by Creditex and Markit to settle trades across the market referencing Norske Skog.
An auction in respect of the company’s credit derivatives swaps bucket 1 was not held Wednesday, as the company fully repaid its €150 million 11¾% senior unsecured notes due 2016 on June 15. Instead the auction final price was deemed to be 100.
Norske Skogindustrier is an Oslo-based paper and pulp company.
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