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E-MAC DE 2007-I lacks funds for May 26 put option
By Wendy Van Sickle
Columbus, Ohio, April 9 E-MAC DE 2007-I BV does not have the funds needed to redeem any notes put back to it on May 26, according to a company filing with the London Stock Exchange.
The May 26 put option applies to the issuers 19.5 million senior class A1 mortgage-backed notes (ISIN: XS0322554774), 433.3 million senior class A1 mortgage-backed notes (ISIN: XS0322556472), 39.1 million mezzanine class B mortgage-backed notes (ISIN: XS0322556985), 33.5 million junior class C mortgage-backed notes (ISIN: XS0322557017), 13.9 million subordinated class D mortgage-backed notes (ISIN: XS0322557520) and 8.3 million subordinated class E mortgage-backed notes (ISIN: XS0322557876). The notes mature in 2054.
None of the notes will be redeemed on the upcoming put date.
Deutsche Bank AG, London Branch (+44 20 7545 8273 or abs.mbs.london@list.db.com) is the principal paying agent.
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