Delta's Bonds Are Worth 18% of Face Value, Swaps Show
Bloomberg, October 11, 2005
The story discusses the auction for Delta Air Lines and Northwest Airlines bonds. It says that 10 banks participated in
setting the settlement price for Delta bonds and seven for Northwest bonds. The auction was held via Creditex, an electronic
broker. Creditex's Mazy Dar is quoted as saying that having a "consistent way of dealing with cash settlement for
bonds in default is highly beneficial" to the markets.
