Panama Resort Hits Road with Bond

Panama Resort Hits Road with Bond


Newland International Properties, the builder of the Trump Ocean Club in Panama, plans to sell $220m in 2014 NC3 144a/Reg S senior secured project notes. A US and London road show begins today in Miami, with expected pricing November 8. The Trump Ocean Club is a resort being constructed on the Punta Pacifica Peninsula in Panama City. Proceeds will fund an escrow account with the entire amount necessary to construct the project, a reserve account covering six months of debt service and refinance

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