Bondholders Snub Trump Offer: Bondholders of Donald...
From Times Staff and Wire Reports
Bondholders Snub Trump Offer: Bondholders of Donald J. Trump’s Taj Mahal casino said they rejected a recent proposal from the Trump Organization to exchange $675 million in junk bond debt for equity--a plan aimed at improving Trump’s debt-laden properties. Trump, whose real estate and casino holdings are burdened with more than $3 billion in debt, has been trying to reduce the interest payments on his bank loans and high-yield bonds through negotiations.
