Thursday, January 22, 2009

The Donald Avoids Bankruptcy AGAIN

The Donald managed to convince his bondholders and senior lenders that he is worthy of yet another temporary reprieve, and announced a two week forbearance extension early today. At this point February 4 is the D-Day at which point the $53 million unpaid interest on the $1.25 billion 8.5% Notes due 2015 become fully due. Curious what can happen in the next two weeks, but it is definitely not going to involve a sale of the Trump properties in Atlantic City which at of a recent visit could easily qualify for ghost town status. One thing is pretty sure: soon-to-be son in law Jared Kushner won't be providing any rescue financing, he has his own hands full. Sphere: Related Content
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