Six Flags bonds valued at 14 cents on dollar
Credit-default swaps traders set a value of 14 cents on the dollar for the bonds of Six Flags Inc. to settle contracts protecting against a default by the amusement-park operator in bankruptcy protection.
The price, the result of an auction among 11 dealers including BNP Paribas and Goldman Sachs Group Inc., means sellers of the swaps will pay 86 cents on the dollar to buyers of protection to settle the contracts, according to data posted on a Web site from administrators Markit Group Ltd. and broker Creditex Group Inc.
Dealers also set a value of 96.125 cents on the dollar for the company's senior secured loans.
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