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  1. (AFX UK Focus) 2008-11-06 12:05 UPDATE 1-Kaupthing CDS initial value sr at 5.6%, sub 1.4% (Interactive Investor)
    LONDON, Nov 6 (Reuters) - The first stage of an auction to settle credit default swaps on the senior debt of Icelandic bank Kaupthing set a preliminary price at 5.625 percent of notional value, higher than cash bond prices. This is the third ever European CDS cash settlement auction, following the first for Landsbanki on Tuesday and Glitnir on Wednesday. The inside market midpoint was calculated ...
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