The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Americas Credit Derivatives Determinations Committee voted to hold an auction in respect of Cemex S.A.B. de C.V., a Mexico-based holding company of entities whose main activities are in the construction industry.
On December 14, ISDA announced that an External Review Panel of the Americas Determinations Committee resolved that a Restructuring Credit Event occurred in respect of Cemex.
ISDA will facilitate the process by publishing the auction terms on its website www.isda.org/credit, in due course. The auction will be administered by Markit and Creditex. The auction date has not yet been determined.
