RadioShack kept alive via US$25b credit-default swaps
The amount of swaps tied to the electronics retailer is 28 times its debt, more than any other US company
Fri, Dec 19, 2014 - 5:50 AM
Among US non-financial companies, only casino operator Caesars Entertainment has more swaps tied to its debt than the 93-year-old RadioShack.
RADIOSHACK Corp is finding an unlikely ally in its efforts to stay out of bankruptcy: credit derivatives traders who amassed more than US$25 billion of trades speculating how much longer it can keep paying its bills.
After a 60 per cent surge this year, the amount of...