Sellers of protection on the debt of petrochemical company LyondellBasell Industries will pay out over US$700 mln to settle credit default swaps after an auction on Thursday. Outstanding CDS on LyondeellBasell amounted to a total net notional value of US$715 mln as of March 27, according to the Depository Trust & Clearing Corp, which registers most CDS contracts.
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Sunday, April 19, 2009
LyondellBasell to pay out over US$700 mln to settle credit default swaps
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