Argentina CDS auction set for Sept. 3

|By:, SA News Editor

The International Swaps and Derivatives Association has set Sept. 3 as the auction date to settle Argentina's CDSs.

After a 14-to-1 vote yesterday, the ISDA determined that the auction will include the two controversial yen-denominated bonds in the list of deliverable securities.

The auction, run by Creditex and Markit, will establish the payout that holders of protection on Argentine bonds will receive as a result of the country's recent default.

Previously: Argentina CDS auction delayed until September