Breaking: Lehman CDS final results: 8.625 cents per dollar

Creditfixings.com has posted the final results of the Lehman Brothers Holdings Inc. credit default swap auction. The results were lower then anticipated.

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During an auction Friday morning, a value was agreed upon to settlement on Lehman credit default swaps.The final price was set at 8.625 per dollar for the debt, according to Creditfixings.com. This is a decrease from the initial value set at 9.75 cents per dollar for the debt. A preliminary price had been 12-13 cents on the dollar.

The dealers participating in the auction are:
Banc of America Securities LLC
Barclays Bank PLC
BNP Paribas
Citigroup Global Markets Inc.
Credit Suisse Securities (USA) LLC
Deutsche Bank AG
Dresdner Bank AG
Goldman Sachs & Co
HSBC Bank USA, National Association
JPMorgan Chase Bank, National Association
Merrill Lynch, Pierce Fenner & Smith Incorporated
Morgan Stanley & Co. Incorporated
The Royal Bank of Scotland PLC
UBS Securities LLC

- Maria Woehr

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