Rite Aid CDS Auction Delivers 98% Payout to Swaps Holders (1)

Debt issued by Rite Aid Corp. was valued at 2 cents on the dollar at an auction Wednesday, according to Creditex and Markit, handing a 98% payout to holders of credit default swaps.

• The final price was lower than the initial market midpoint of 3.375 cents
• Net open interest to sell was $20.279 million
• Net notional outstanding for CDS as of the week ending Oct. 6 was $226,149,278, according to the Depository Trust & Clearing Corporation
• Participating bidders were Barclays Plc, BNP Paribas SA, Bank of America Corp., Citigroup Inc., Deutsche Bank AG, Goldman Sachs Group Inc., JPMorgan Chase ...