August 6, 2008 / 4:08 PM / 11 years ago

Gordian Knot says $30 bln Sigma fund solvent

LONDON, Aug 5 (Reuters) - Sigma Finance, the $30 billion structured investment vehicle managed by Gordian Knot, said the fund is solvent and paying its debts fully and timely.

“Sigma is solvent and both senior debt and capital notes of Sigma continue to be paid in full and on a timely basis,” Gordian Knot said on Sigma’s Web site.

The comment comes after sources told Reuters that some creditors had appointed accountancy firm Deloitte [DLTE.UL] and law firm Orrick to arrange a conference call.

Sigma has not received any approach from any creditor group or from any advisors, the fund said on its Web site.

Sigma said it has $2.95 billion of medium term notes due by Sep. 30th, substantially less than the $8.3 billion reported by analyst research notes, including Moody’s Investors Service.

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