Nordic Iron Ore AB extend short term loans with SEK 6.0 million
Nordic Iron Ore AB (publ) has entered into an agreement for a loan facility totaling SEK 6.0 million with Lubrica Equity AB and Bizcap AB.
Summary of the terms of the loan facility:
• Loan agreement for a total of SEK 6.0 million.
• The loan has an arrangement fee of 4.0 percent and a monthly interest rate of 1.5 percent.
• The loan is due for repayment on 31 August 2024.
The loan ensures that Nordic Iron Ore has working capital and sufficient financing until the planned capitalization is completed. Overall, the board has made the assessment that the terms of the loans are or market terms.
Previously loans totaling to SEK 32.0 million are also due for repayment on 31 August 2024, see press release on 23 March 2024.