General Growth loan-only CDS auction final price comes in at 44.25

By Jennifer Chiou

New York, May 13 - The final price for loan-only credit-default swaps referencing General Growth Properties, Inc. was 44.25, according to the Creditex web site.

On April 17, Markit announced that its Markit LCDX index dealers had voted in favor of a credit event auction to facilitate the settlement of the loan-only CDS.

The Chicago-based real estate investment trust that owns regional shopping malls, master planned community developments and commercial office buildings previously filed for bankruptcy.

The company is a constituent of series 8, 9 and 10 of the Markit LCDX index.

The auction was administered by Markit and Creditex, and International Swaps and Derivatives Association will publish the auction details on its web site.

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