Cengage Learning Acquisitions' LCDS auction to be held on Aug. 6

By Marisa Wong

Madison, Wis., Aug. 2 - The International Swaps and Derivatives Association, Inc. announced that an auction to settle the credit derivative trades for Cengage Learning Acquisitions, Inc. will be held on Aug. 6.

Settlement for the LCDS auction is slated for Aug. 13.

The ISDA said on July 10 that its Americas Credit Derivatives Determinations Committee determined that a bankruptcy credit event occurred for Cengage on July 9.

Cengage, a Stamford, Conn.-based provider of teaching, learning and research services for the academic, professional and library markets, filed for bankruptcy on July 2. The Chapter 11 case number is 13-44106.

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