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Donald Trump's Panama project faces debt deal

Friday, February 1, 2013

Newland International Properties, which is developing the Trump Ocean Club in Panama, announced a restructuring deal for $220 million of bonds, said Ajata Mediratta, from Greylock Capital Management.

Creditors of the project will likely accept the deal, said Mediratta, who leads a committee that represents more than 75 percent of bondholders.

The agreement could also include the pre-negotiated use of Chapter 11 process under New York law, Newland announced.

Full story (in Spanish)