ISDA®
ISDA - INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION, INC.
NEWS RELEASE
For Immediate Release, Wednesday, December 30, 2009
For More Information, Please Contact:
Deirdre Leahy, ISDA New York,
+1 212-901-6021, dleahy@isda.org
Lauren Dobbs, ISDA New York, +1 212-901-6019, ldobbs@isda.org
NEW YORK, Wednesday, December 30, 2009 – The International Swaps and Derivatives Association, Inc. (ISDA) today announced that its Japan Credit Derivatives Determinations Committee resolved that a Restructuring Credit Event occurred in respect of AIFUL Corporation, a Japan-based financial service provider. The Committee also voted to hold an auction for AIFUL.
ISDA will facilitate the process by publishing the auction terms on its website www.isda.org/credit, in due course. The auction will be administered by Markit and Creditex.
About ISDA
ISDA, which represents participants in the privately negotiated derivatives industry, is among the world’s largest global financial trade associations as measured by number of member firms. ISDA was chartered in 1985, and today has over 830 member institutions from 58 countries on six continents. These members include most of the world’s major institutions that deal in privately negotiated derivatives, as well as many of the businesses, governmental entities and other end users that rely on over-the-counter derivatives to manage efficiently the financial market risks inherent in their core economic activities. Information about ISDA and its activities is available on the Association's web site: www.isda.org.
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