Argentina CDS auction set for Aug. 21

|By:, SA News Editor

The International Swaps and Derivatives Association is organizing an auction for Aug. 21 to settle CDS deals of Argentine debt.

The auction will be run by Creditex and Markit, to establish the payout that holders of protection on Argentine bonds will receive due to the country's default.

The price set through the auction will determine the payout on Argentine CDS with a net notional outstanding of $900M.