Dannemora Mineral reaches deal on bridge financing to come in January

By Caroline Salls

Pittsburgh, Dec. 18 - Dannemora Mineral AB reached an agreement with investors on the main terms of bridge financing, which is scheduled to be paid out at the beginning of January, according to a news release.

The company said implementation of the bridge financing is subject to approval from at least two thirds of the holders of its senior bonds. A bondholder meeting is scheduled for Dec. 30.

Dannemora said the proposal is supported by more than 60% of the bondholders.

According to the release, discussions regarding a long-term solution for the financing of planned investments are ongoing.

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

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