Strawinsky I fails to make Feb. 10 interest payment on class D notes

By Sarah Lizee

Olympia, Wash., Feb. 12 – Strawinsky I plc said it had insufficient funds to pay interest in full for most of its €12 million of class D senior secured deferrable floating-rate notes due 2024 (Cusip: 863205AF7) on the Feb. 10 payment date.

The issuer said it doesn’t anticipate there will be enough further collections to enable it to make the payment within the grace period, which constitutes a potential event of default.

Holders of the €10.27 million of class E senior secured deferrable floating-rate notes due 2024 (Cusip: 863205AG5) and €28.6 million of class F subordinated notes due 2024 (Cusip: 863205AH3) were also notified.

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