HeSaLight estate gets funding offer from major individual bondholders

By Caroline Salls

Pittsburgh, March 24 – HeSaLight A/S’s estate received an offer for further funding directly from major individual bondholders, according to a notice released by Nordic Trustee A/S, the trustee for HeSaLight’s 7% senior secured bond issue 2014/2019.

Under the funding proposal, a negative result for the company’s estate will be covered by the major individual bondholders.

A positive result will be distributed 80% to the major individual bondholders and 20% to the estate.

According to the release, HeSaLight’s estate sold further assets on behalf of the bondholders in February as part of a floating charge held by the bond trustee.

Nordic Trustee said it is awaiting financial accounts from the estate detailing the costs and proceeds from the sale.

HeSaLight is an LED maker based in Roskilde, Denmark.

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