Elliott-Backed Cubic to Defer Debt Payment in Bid to Manage Cash

Cubic Corp. has notified lenders that it plans to defer an interest payment on a chunk of its debt, some seven months after cutting its borrowings and receiving a fresh equity injection from owners Elliott Investment Management and Veritas Capital Fund Management.

The firm, which develops fare gate technology for public transportation systems and also has a defense unit, told lenders it plans to delay the payment as it manages its cash flow, according to people familiar with the matter, who asked not to be identified discussing private information.