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Trump Panama hotel developer misses bond payment

Wednesday, January 7, 2015

The developer of a Donald Trump-branded hotel and apartment complex in Panama missed a bond payment 18 months after issuing the notes when it emerged from bankruptcy.

Newland International Properties was unable to make a $23.4 million principal payment due this week on its $200 million of notes due in 2017, according to a statement on the Panama stock exchange’s website.

The real-estate developer said it did pay $9.4 million in interest.

Source: Bloomberg