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Friday, July 25, 2008

Cost of WaMu Debt Protection Increases Sharply

by Calculated Risk on 7/25/2008 11:21:00 AM

From Reuters: Washington Mutual debt protection costs jump

The cost of protecting Washington Mutual's debt for five years rose to $1.85 million on an upfront basis, plus $500,000 in annual premiums, up from about $1.35 million plus $500,000 annually on Thursday, according to a trader.
This is the cost to insure $10 million in debt.