Trump Entertainment Resorts struck a deal with lenders and note holders and now has until January 21 to try negotiating a restructuring of its debt, according to a regulatory filing from the firm this week. Trump had delayed paying a $53.1 million bond interest payment that was due December 1, and the 30-day grace period expired Wednesday. The Atlantic City, N.J.-based firm had hoped to reach a deal to restructure $1.25 billion in bond debt during that period. Trump Entertainment currently owns three casinos in Atlantic City, N.J., but hopes to sell one-the Trump Marina Hotel Casino-by May. Coastal Development LLC has agreed to buy the property for $270 million.
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January 2, 2009A Return to the Classics with Jeffrey Rackover
