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E-MAC NL 2005-III lacks funds for Jan. 27 put option
By Wendy Van Sickle
Columbus, Ohio, Jan. 16 – E-MAC NL 2005-III BV does not have the funds needed to redeem any notes put back to it on Jan. 27, according to a company filing with the London Stock Exchange.
The Jan. 27 put option applies to the issuer’s €856.2 million senior class A notes, €14.7 million mezzanine class B notes, €10 million junior class C notes, €9.1 million subordinated class D notes and €4.5 million subordinated class E notes. All of the notes mature in 2038.
None of the notes will be redeemed on the upcoming put date.
ABN AMRO Bank NV (+31 20 344 2000 or corporate.broking@nl.abnamro.com) is the principal paying agent. The director of the issuer is Intertrust Management BV (emac@intertrustgroup.com).
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