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Elli Finance extends forbearance until Oct. 19 on 8¾%, 12¼% notes
By Susanna Moon
Chicago, Oct. 8 – Elli Finance (UK) plc extended the forbearance on its £350 million of 8¾% senior secured notes due 2019 and its £175 million of 12¼% senior notes due 2020.
The standstill and deferral agreement has been further amended to extend the forbearance until Oct. 19, according to a notice.
The issuer said on Aug. 29 that it was in default on its 8¾% senior secured notes due 2019.
Notes trustee Wilmington Trust NA said the default stemmed from the company’s failure to make an interest payment due on the notes on June 15.
Elli Finance (UK), based in Wilmslow, England, operates as a special purpose entity, which was set up to issue senior secured notes.
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