(Bloomberg) -- Credit-default swaps on FKI Plc, the
U.K. industrial company that makes conveyers used by PepsiCo
Inc., fell by a record on expectations it may buy back its debt
as part of a strategic review being announced tomorrow.
Contracts based on 10 million euros ($13 million) of the
London-based company's debt fell 22,000 euros to 125,000 euros,
the biggest-ever one-day decline, according to Deutsche Bank AG.
The contracts are used to speculate on a company's ability to
repay debt, and a decline typically indicates improving credit
quality.
Read more at Bloomberg Bonds News
U.K. industrial company that makes conveyers used by PepsiCo
Inc., fell by a record on expectations it may buy back its debt
as part of a strategic review being announced tomorrow.
Contracts based on 10 million euros ($13 million) of the
London-based company's debt fell 22,000 euros to 125,000 euros,
the biggest-ever one-day decline, according to Deutsche Bank AG.
The contracts are used to speculate on a company's ability to
repay debt, and a decline typically indicates improving credit
quality.
Read more at Bloomberg Bonds News
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