Is there a Successor to Solvay SA? The Eligible Market Participant noted for the potential DC Question that: Per announcement, Solvay SA has separated into two independent companies: Solvay SA and Syensqo on 12/9/2023, with following ISINs moving to newly split off Syensqo: €500,000,000 Undated Deeply Subordinated Fixed to Reset Rate Perp-NC5.5 Bonds with first […]

Is there a Successor to Aegon N.V.? The Eligible Market Participant noted for the potential DC Question that: In September 2023, Aegon N.V., a public limited liability company (naamloze vennootschap) governed by the laws of the Netherlands, changed its legal domicile to Bermuda and became Aegon Ltd. As Dutch law currently does not facilitate a […]

Is there a Successor to AngloGold Ashanti Limited? The Eligible Market Participant noted for the DC Question that: AngloGold Ashanti Limited has undergone a corporate reorganisation involving the purchase of the assets of AngloGold Ashanti Limited by AngloGold Ashanti plc.  In connection with such reorganisation, AngloGold Ashanti Limited shares have been delisted from all the […]

Has a Failure to Pay Credit Event occurred with respect to Country Garden Holdings Company Limited? The Eligible Market Participant that submitted the DC Question noted that: Country Garden Holdings Company Limited has issued USD500 million 6.15% bonds due 17 September 2025 (ISIN: XS2051371222) (the “Bonds“). The Offering Memorandum for the Bonds was submitted by […]

Has a Failure to Pay Credit Event occurred with respect to Sino-Ocean Group Holding Limited? The Eligible Market Participant who submitted the DC Question provided the following documents in support of their question: Announcement by the Reference Entity of 14 August: https://www1.hkexnews.hk/listedco/listconews/sehk/2023/0814/2023081400021.pdf Yicai Global news article of 16 August 2023: https://www.yicaiglobal.com/news/sino-ocean-defaults-on-bond-interest-payment-braces-for-up-to-usd27-billion-in-first-half-losses Asia Times news article […]

Has a Failure to Pay Credit Event occurred with respect to Casino Guichard-Perrachon SA? The EMEA DC has determined that a Failure to Pay Credit Event has occurred. The Eligible Market Participant who submitted the DC Question provided the following documents in support of their question: Casino announcement of 21 June regarding standstill of interest […]

The Eligible Market Participant who submitted the DC Question provided the following documents in support of their question: Casino announcement of 21 June regarding standstill of interest payments: https://www.groupe-casino.fr/wp-content/uploads/2023/06/2023-06-21-PR-Update-on-the-conciliation-proceedings.pdf Moody’s article of 18 August appending limited default to Casino after payment default on the 2026 Notes: https://www.moodys.com/research/Moodys-appends-limited-default-LD-to-Casino-after-payment-default–PR_479529?cy=fra&lang=fr Bloomberg article of 18 August referencing Moody’s announcement: […]

The DC Question has been decided by the EMEA DC. Has a Failure to Pay Credit Event occurred with respect to Casino Guichard-Perrachon SA under Section 6.01(8) of the 2026 Notes and the 2027 Notes by virtue of the Reference Entity’s suspension of certain tax and social security payments and the moratorium mandated by the […]