Markit and Creditex, along with six major credit derivative dealers, announced the results of a credit event auction conducted to facilitate settlement of loan-only credit default swap (LCDS) trades referencing Ferretti first-lien loans.   The final price for Ferretti first-lien loans for the purpose of settling LCDS transactions was determined to be 10.875%. 

Sellers of Ferretti first lien LCDS protection will therefore need to pay 89.125% of the amount of the protection they sold.

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