The iTraxx Crossover Series 37 Final List has now been published. Kindly note the following changes from the iTraxx Crossover Series 37 Provisional List:
- VEON HOLDINGS B.V. (VEONHOL)
For an entity to be eligible for inclusion in iTraxx Crossover, it must be incorporated in one of the EU, EFTA, or UK countries. Though VEONHOL qualifies for inclusion in iTraxx Crossover due its Dutch incorporation, it has substantial revenues linked to non-EU/EFTA/UK countries, mainly Russia. In light of this, IHS Markit has deemed appropriate not to include VEONHOL in the iTraxx Crossover Series 37 Final List, as it could be harmful for the liquidity of the iTraxx Crossover index, the economic intent of which is to represent European corporate credit risk.
- UNILABS SUBHOLDING AB (UNILSUB)
For an entity to be eligible for inclusion in iTraxx Crossover, it must have issued/guaranteed at least EUR 100 million equivalent outstanding in a currency deliverable into a European CDS contract as of the last business day of the month prior to the roll. While UNILSUB currently satisfies this criteria, due to the announced redemption of its debt prior to the roll date, IHS Markit has deemed appropriate not to include UNILSUB in the iTraxx Crossover Series 37 Final List.
For any queries, please email
itraxxadvisory@ihsmarkit.com.