ISDA to determine Wednesday on whether bond swap proposed by Greece to private investors triggers 'credit event'
The International Swaps and Derivatives Association will determine on Wednesday whether the bond swap proposed by Greece to private investors will trigger a ``credit event'', thus prompting the payment of CDS' on the Greek debt, ISDA said in an announcement on Monday.
Greece formally launched a bond swap offer to private holders of its bonds on Friday, setting in motion the largest-ever sovereign debt restructuring in the hope of getting its messy finances back on track.