British Vita, Sanitec Loan Default-Swap Auctions Are Scheduled
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Credit-default swaps on British Vita and Sanitec Oyj’s loans may be settled as soon as next month, according to Creditfixings.com, a Web site run by auction administrators Markit Group Ltd. and Creditex Group Inc.
The auctions, set by Markit iTraxx Levx loan-index dealers, will be held on Feb. 5 for Sanitec and Feb. 10 for British Vita, according to an “indicative” schedule, Markit said. The auctions will be used to settle derivatives based on the private equity-owned companies’ debt.