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Windstream +4.8, Uniti +4.9% as ISDA panel sees no bond default

Published 10/04/2017, 02:30 PM
Updated 10/04/2017, 02:30 PM
© Reuters.  Windstream +4.8, Uniti +4.9% as ISDA panel sees no bond default
  • Amid a few price hiccups today, Windstream Holdings (NASDAQ:WIN) is up 4.8% after an ISDA panel has agreed unanimously that the company didn't trigger a CDS payout as part of its asset transfers tied to the spin-off of Communications Sales & Leasing (now Uniti Group).
  • Uniti (NASDAQ:UNIT), which depends on lease payments from Windstream for its network, is up 4.9%.
  • Shares in both Windstream and Uniti slipped last week after Aurelius Capital Management claimed a default based on what it said was a sale-leaseback around the spin-off.
  • The 15-bank panel was unanimous that there wasn't a CDS trigger in this case.
  • Also up are Windstream peers: USM +4.3%; CNSL +1.7%; CBB +2.6%; HCOM +2.1%; SHEN +1%.
  • Source: Bloomberg
  • Now read: Uniti Group: I Just Bought Shares Of This 16% Yielder


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