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Sanitec
Sanitec is a Finnish bathroom products maker that allegedly holds about $1.2 billion in total outstanding debt.
The company initially missed interest payments on its €850 million loans on 22 December 2008, and subsequently defaulted on the payments on 7 January 2009. As a LevX constituent, it triggered the first European leveraged loan credit event auction. The auction, which took place on 5 February 2009, finalised first lien at 33.5 points and second lien at 4 points.
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