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Cemex Workout Ruled Restructuring Event

Dec 15, 2009

Cemex’s $15bn bank debt refinancing, concluded in August, has been ruled by ISDA to have constituted a “restructuring credit event” because it resulted from a deterioration in the creditworthiness of the issuer. The decision,...

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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator


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