The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Europe, Middle East and Africa (EMEA) Credit Derivatives Determinations Committee resolved that a restructuring credit event occurred in respect of Norske Skogindustrier ASA.
The Committee also resolved that one or more auctions may be held in respect of outstanding CDS transactions of varying maturity ‘buckets’. ISDA will publish further information regarding the potential auction(s) on its website in due course.
