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EA Partners I unable to pay in full coupon on 6¾% notes due 2021
By Marisa Wong
Los Angeles, June 17 – EA Partners I BV said it was unable to pay in full the interest due June 1 on its $500 million 6¾% notes due 2021.
On June 2, EA Partners paid $4.05 million of the $8,437,500 due, leaving a shortfall of $4,387,500, according to a notice.
EA Partners said $439,671.77 of the interest payment was made using funds from a liquidity pool, $421,033.76 from deposit accounts and $18,638.01 from an equity account.
The company said it expects it will continue to be unable to make interest payments on the notes in full on subsequent payment dates.
EA Partners is an Amsterdam-based special purpose vehicle linked to Etihad Airways, a United Arab Emirates airline.
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