Norway’s Hilleren to add 5% default rate on four note series this month

By Susanna Moon

Chicago, Sept. 19 – Hilleren Tomteselskap AS will pay an extra 5% default interest on four series of its notes due to a technical glitch that ended in a failure to pay interest due Monday.

The four series of notes are as follows, according to a notice by Nordic Trustee ASA:

• 20% junior secured bond issue 2016/2017;

• 12% senior secured bond issue 2016/2017;

• 20% junior secured bond issue 2016/2017; and

• 12% senior secured bond issue 2016/2017.

The company said it will pay the interest due plus the default interest on Tuesday.

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