MVIS Announces Rule Change for two Bond Indices

Frankfurt, (2 July 2018) – MV Index Solutions (MVIS) has implemented a new rule for
MVIS Altman N. Am. Defaulted & Distressed Bond Index (MVRCOV),
MVIS EM Aggregate Bond Index (MVEMAG),
• And the respective sub-indices.

With the August quarterly review, to be implemented effective 9/1/2018, the following text will be added to the Index Guide:
“Distressed Debt Exchange Offers: in case more than 90% of the Amount Outstanding is exchanged in a Distressed Debt Exchange with the new bond having different characteristics (maturity, coupon or Amount Outstanding) or trading at a substantially different price, the old bond will be redeemed at the latest available price with the proceeds held as “Paid Cash” and reinvested into the index on the following Adjustment Day.”

The amended Index Guide is available for download at www.mvis-indices.com/index-guides.

Best regards,
MV Index Solutions


Up