Electronic Arts (EA) has filed a lawsuit against its bondholders' trustee US Bank Trust, asking a federal judge to declare it isn't in default and doesn't owe a change-of-control premium, Bloomberg reported Wednesday.

The company, which was taken private in August by Saudi Arabia's investment fund, said in the suit that any effort to seek an early payment of a premium would cause it "serious irreparable harm" and could trigger cross-default provisions under about $18 billion in debt of its parent, Oak-Eagle AcquireCo, the report said.

Electronic Arts said no premium is owed because the notes were rated investment grade by Egan-Jones Ratings and because of a defeasance maneuver it invoked in a February buyback proposal, according to the report.

Electronic Arts and US Bank did not immediately respond to a request for comment from MT Newswires.

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