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Prospect News home > News index > List of issuers Tenders > Headlines for 2020 > News item
Published on 6/12/2020 in the Prospect News Distressed Debt Daily and Prospect News Liability Management Daily.

Five E-MAC issuers lack funds for July 27 put option

By Sarah Lizee

Olympia, Wash., June 12 – E-MAC NL 2006-II BV, E-MAC Program BV – Compartment NL 2007-III, E-MAC Program BV – Compartment NL 2007 NHG-II, E-MAC NL 2006-NHG I BV and E-MAC Program BV –Compartment NL 2007 NHG-V said they do not have funds available to redeem their notes, which were subject to a put date on July 27, according filings with the London Stock Exchange.

Therefore, none of the notes will be redeemed on July 27.

Holders of E-MAC NL 2006-II’s €528 million senior class A notes 2006 due 2039 (ISIN: XS0255992413), €8.8 million mezzanine class B notes 2006 due 2039 (ISIN: XS0255993577), €5.5 million junior class C notes 2006 due 2039 (ISIN: XS0255995358), €7.7 million subordinated class D notes 2006 due 2039 (ISIN: XS0255996166) and €2.2 million subordinated class E notes 2006 due 2039 (ISIN: XS0256040162) were notified.

Holders of E-MAC Program BV – Compartment NL 2007-III’s $415.6 million senior class A1 notes 2007 due 2047 (ISIN: US26874HAA86), €205.8 million senior class A2 notes 2007 due 2047 (ISIN: XS0307677640), €13.2 million mezzanine class B notes 2007 due 2047 (ISIN: XS0307682210), €9.9 million junior class C notes 2007 due 2047 (ISIN: XS0307682723), €12.4 million subordinated class D notes 2007 due 2047 (ISIN: XS0307683291) and €1.7 million subordinated class E notes 2007 due 2047 (ISIN: XS0307683531) were notified.

Holders of E-MAC Program BV – Compartment NL 2007 NHG-II’s €600 million senior class A notes 2007 due 2046 (ISIN: XS0307416338) and €7.2 million mezzanine class B notes 2007 due 2046 (ISIN: XS0307417146) were notified.

Holders of E-MAC NL 2006-NHG I’s €600 million senior class A notes 2006 due 2039 (ISIN: XS0255152935) and €5.4 million subordinated class B notes 2006 due 2039 (ISIN: XS0255155441) were notified.

Holders of E-MAC Program BV – Compartment NL 2007 NHG-V’s €250 million senior class A notes 2007 due 2041 (ISIN: XS0321491978) and €3 million mezzanine class B notes 2007 due 2041 (ISIN: XS0321494139) were notified.


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