The IIC also reported it has signed a letter of intent with Goldman Sachs to become a shareholder with the company and contribute bond prices to all iBoxx indices as well as two other IIC indices.
According to a Reuters report, US Treasury, agency and investment-grade corporate issues, including Lehman Brothers and Merrill Lynch, will make up the initial offering and the IIC says it will consider adding indices for US mortgage and asset-backed securities, as well as high-yield bonds. Treasuries require an amount outstanding over $1 billion, while other bonds of over $500 million, and corporate issues require an investment grade rating to qualify for the indices, according to the company.
International Index Company (IIC), established in 2001, provides rules-based, multiple contributor bond indices. More information is at www.indexco.com .
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