Elpida credit default swaps auction comes in with final price of 21

By Jennifer Chiou

New York, March 22 - The auction to settle the credit derivative trades referencing Elpida Memory, Inc. held on Thursday resulted in a final price of 21, according to a news release.

As reported, the International Swaps and Derivatives Association, Inc. announced on Feb. 29 that its Japan credit derivatives determinations committee resolved that a bankruptcy credit event had occurred for Elpida and that an auction would held for outstanding credit default swap transactions.

Tokyo-based Elpida is a supplier of dynamic random access memory.

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