Bifogade filer
Nordic Iron Ore prolongs short-term loans
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Råvaror |
| Industri | Gruvdrift & metaller |
Nordic Iron Ore AB prolongs short-term loans of SEK 24.5 million with the company’s three largest shareholders and a former board member. The repayment period has been prolonged by 1.5 months and the loans are now due for repayment on November 15, 2023. The agreement has the same interest as previous loans which entails an annual interest rate of 8 percent on the outstanding loans.
Nordic Iron Ore AB has previously entered loan agreements for a total of SEK 24.5 million with the company's three largest owners Bengtssons Tidnings AB, Ludvika Holding AB and Kopparinvest AB and the company's former board member Timo Lindborg via company. As of today, the company has used SEK 21.5 million of the granted loans. The prolonged loans entail that Nordic Iron Ore can continue to work on securing a long-term financing solution and the company is in the final stages of negotiations with Cargill on offtake and investment agreements.
Summary of the terms for the loan facilities:
· Loan agreement for a total of SEK 24.5 million
· The loans have an annual interest rate of 8 percent
· The loans are due for repayment on November 15, 2023
The board has made the assessment that the terms of the loans are in line with market conditions.