Ardagh CDS Holders Set for 66% Payout After Settlement Auction

Holders of Ardagh Group SA’s credit default swaps are set for a payout worth 66% of face value following a debt restructuring that saw unsecured bondholders take over the Irish...

By Giulia Morpurgo · Bloomberg Markets

Holders of Ardagh Group SA’s credit default swaps are set for a payout worth 66% of face value following a debt restructuring that saw unsecured bondholders take over the Irish packaging firm.