HeSaLight 7% bondholders to get €3.85 million distribution Sept. 15

By Caroline Salls

Pittsburgh, Sept. 5 – The bond trustee for HeSaLight A/S’s 7% senior secured bond issue 2014/2019 will make a €3.85 million distribution to bondholders on Sept. 15, according to a notice released Tuesday.

The distribution will come from funds recovered from a pledged bank account and proceeds received from a sale of floating-charge assets.

Nordic Trustee said all funds available on the secured pledged bank account were placed on a client account on behalf of the bondholders.

The funds were received with the reservation from the bankruptcy estate that the amount could be recovered if the claim was not approved by the bankruptcy estate. The trustee said that reservation has been lifted.

The distribution will be made to bondholders of record as of Sept. 14.

HeSaLight is an LED maker based in Roskilde, Denmark.

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