HeSaLight bonds accelerated, trustee demands €100.72 million payment

By Caroline Salls

Pittsburgh, Sept. 9 – HeSaLight A/S bond trustee Nordic Trustee A/S accelerated payment of the company’s 7% senior secured bond issue 2014/2019, according to a notice released Friday by the trustee.

The trustee said it demanded payment of €100.72 million within 10 days. This amount includes principal, interest and an applicable premium due on the bonds.

If the payment is not made within 10 days, HeSaLight will be obligated to pay 5% in additional default interest.

The trustee said additional defaults have arisen on the bonds since the holders originally instructed it to declare the bonds in default in June.

HeSaLight is an LED maker based in Roskilde, Denmark.

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