Max Two defaults on principal and interest payment due March 30

By Mary-Katherine Stinson

Lexington, Ky., July 15 – Max Two Ltd. failed to pay a scheduled principal and coupon payment for its €100 million 5.7% secured notes due 2024 (ISIN: XS0201817292), according to a company release Friday.

A principal payment of €115,635 and a coupon payment of €116,753.30 were due to be paid by the company on the interest date which fell on March 30.

Since the payments have not been made, a notice of default was sent to noteholders by trustee Bank of New York Mellon.

The company stated it is currently reviewing its financial position with advisers and considering what steps can be taken, if any, to recover amounts the company is owed or potentially owed.

Max Two is a fund based in St. Helier, Jersey.

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