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Dannemora bond maturity date, temporary waiver extended to July 11
By Caroline Salls
Pittsburgh, July 7 – The maturity date of Dannemora Magnetit AB’s super senior secured bonds due July 4 has been extended to July 11, according to a notice from bond trustee Nordic Trustee ASA.
In addition, the waiver of parent Dannemora Mineral AB’s interest payments due March 22 and Sept. 22, 2013 on its 11¾% callable senior secured bonds due 2016 and of a SEK 50 million minimum liquidity covenant under that bond agreement was extended to July 11.
The trustee said it agreed to extend the maturity date and waiver in the context of continuing talks and negotiations regarding a potential restructuring of the company’s capital structure.
Dannemora Mineral is an iron ore producer based in Danderyd, Sweden.
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