The restructuring of Stamford, Connecticut-based reprographics firm Xerox’s $7 billion revolving credit line in June by Bank One, Citibank and JP Morgan Chase, which triggered credit default swap contracts written on the company, has caused a number of major protection sellers to step back from the market until the debate over restructuring as a credit event is concluded.
Help may be on the way. The Bank for International Settlements, which is holding talks on the restructuring issue with ind
To continue reading...
If you have access through Open Athens you can login here