Dannemora Magnetit bondholders to get SEK 7.99 million distribution

By Caroline Salls

Pittsburgh, Sept. 13 – The trustee for Dannemora Magnetit AB’s super senior secured bonds due March 6, 2015 said it would make a SEK 7.99 million distribution to the bondholders on Sept. 13, according to a notice released by bond trustee Nordic Trustee ASA.

The trustee said the distribution represents a preliminary dividend payment from the Dannemora estate.

The bankruptcy estate of guarantor Dannemora Mineral AB delivered SEK 8.3 million to the bond trustee, of which Nordic Trustee said it withheld SEK 310,000 to cover fees and external expenses.

The amount to be distributed to bondholders of record as of Sept. 12 constitutes 38.0574% of the SEK 21 million principal amount of bonds outstanding.

Dannemora Mineral is an iron ore producer based in Danderyd, Sweden.

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