[CTRL] Deal on Trump Debt Includes Bankruptcy

[Jim Rarey]

-Caveat Lector- "Reality" for the Donald? No wonder he needs a day job on TV. - JR       October 22, 2004 Deal on Trump Debt Includes Bankruptcy By BLOOMBERG NEWS y Bloomberg News Trump Hotels and Casino Resorts Inc. said yesterday that it had reached an agreement with bondholders that would reduce its debt through a bankruptcy and leave Donald J. Trump in charge. The agreement would reduce the company's $1.8 billion debt by $400 million as part of a filing for Chapter 11 bankruptcy protection, expected by the end of November, Trump Hotels said. A planned $400 million investment from Mr. Trump, the company's chairman and chief executive, and a Credit Suisse First Boston unit fell apart in September. Bondholders agreed to swap their debt for $74 million in cash, $395 million in common stock and $1.25 billion in new 10-year notes with an interest rate of 8.5 percent, the company said. Mr. Trump, 58, would retain his positions, while his equity stake would be cut to 27 percent from 56 percent. He would invest $71.4 million in the restructured company by converting $16.4 million of company bonds he owns into common stock and buying $55 million in equity with cash. Copyright 2004 The New York Times Company | Home | Privacy Policy | Search | Corrections | RSS | Help | Back to Top www.ctrl.org DECLARATION & DISCLAIMER ========== CTRL is a discussion & informational exchange list. Proselytizing propagandic screeds are unwelcomed. Substance—not soap-boxing—please! These are sordid matters and 'conspiracy theory'—with its many half-truths, mis- directions and outright frauds—is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRLgives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credence to Holocaust denial and nazi's need not apply. Let us please be civil and as always, Caveat Lector. ======================================================================== Archives Available at: http://www.mail-archive.com/[EMAIL PROTECTED]/ <A HREF="">ctrl</A> ======================================================================== To subscribe to Conspiracy Theory Research List[CTRL] send email: SUBSCRIBE CTRL [to:] [EMAIL PROTECTED] To UNsubscribe to Conspiracy Theory Research List[CTRL] send email: SIGNOFF CTRL [to:] [EMAIL PROTECTED] Om