July 9, 2009
ISDA to Publish Auction Terms for Bradford & Bingley
The International Swaps and Derivatives Association, Inc. (ISDA) announced that its EMEA Credit Derivatives Determinations Committee resolved that a failure to pay credit event occurred in respect of Bradford & Bingley PLC, a British bank. The Committee also voted to hold auctions for both the senior and subordinated debt of Bradford & Bingley.
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.
