Ethika Finance misses Jan. 13 interest payment for its 8½% notes

By Sarah Lizee

Olympia, Wash., Jan. 13 – Ethika Finance plc said the interest payment due on Jan. 13 for its 8½% five-year notes (ISIN: GB00BD3H2N59) has not been made.

The company said this non-payment is due to the non-payment of amounts due to Ethika by Wesley Ltd., which has resulted in inadequate funds to pay the noteholders.

The issuer will provide an update on the steps being taken relating to the non-payment by April 13, according to a notice.

Ethika Finance is a London-based asset-backed funding company.

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