New York-based credit derivatives product company (CDPC) Primus Financial Products has restructured $1.2 billion of credit derivatives protection the firm had written referencing a monoline insurer.
Primus Guaranty, the Bermuda-based credit derivatives product company (CDPC) and asset manager, is looking into the possibility of setting up a new entity to sell credit protection, but unlike its existing business model, the new venture would post collateral.
Under threat of delisting from the New York Stock Exchange, Primus Financial Products, a leading credit derivatives product company (CDPC), has started buying back $25 million of its own stock.
Primus Guaranty, the Bermuda based parent company of the first standalone credit derivatives product company (CDPC), had its counterparty credit rating of BBB+ placed on rating watch negative by Standard and Poor's on September 17.
Jerzy Pawlowski has joined New York-based credit derivatives company Primus Guaranty's asset management arm as a portfolio and risk manager.
Bermuda-based Primus has named Richard Claiden as its new chief financial officer. He replaces Joseph Bauman, who will stay on as a senior adviser before leaving the company at the end of the year.
More energy companies are likely to start purchasing credit derivatives as a way of mitigating counterparty credit risk, analysts said at a conference in New York this week. This is partly because spreads on single-name credit default swaps (CDS) of investment-grade...
Primus Financial Products, an AAA-rated company offering credit risk protection on investment grade corporates, financials and sovereigns, has hired Candace Lau-Hansen from JP Morgan Chase as its new global head of marketing.