Telegraph – Hedge funds are betting that G4S’s £5.2bn acquisition of ISS will collapse, by buying credit default swaps on the Danish company’s debt.
The cost of insuring ISS’s debt has risen sharply over the past week, despite initially tumbling when the deal with G4S was announced. Cost of credit default swaps on ISS’s senior five-year debt have increased more than 50pc from 186.25 basis points to 295.085 since October 17.
