Cap Cana Bondholders Organize

Cap Cana Bondholders Organize

Corporate & Sovereign Strategy

Holders of $250m in 2013 9.625% Cap Cana bonds issued in late 2006 are heard to be organizing themselves in anticipation of a potential default on a $100m bridge loan that comes due today. JPMorgan executives are heard to have sought to organize the diverse group of holders through a conference call Monday. While JPMorgan has never done business with Cap Cana, it has this year employed former Bear Stearns and Lehman Brothers bankers who have worked with the resort. Bear Stearns underwrote the co

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