Takefuji credit default swap settlement auction sets 14.75 final price

By Angela McDaniels

Tacoma, Wash., Oct. 28 - Takefuji Corp. credit default swaps will be settled using a final price of 14.75.

Markit Group Ltd. and Creditex Group Inc. announced the result after administrating a settlement auction for the CDSs on Thursday.

On Sept. 30, the International Swaps and Derivatives Association, Inc. announced that its Japan credit derivatives determinations committee resolved that a bankruptcy credit event occurred and voted to hold the auction for CDSs referencing Takefuji.

Takefuji, a consumer lender based in Tokyo, filed for bankruptcy on Sept. 28.

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