Trump Panama hotel developer misses bond payment

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