Cap Cana Seeks Creditor Settlement

Cap Cana Seeks Creditor Settlement

Corporate & Sovereign Strategy

Cap Cana appears to be seeking to avoid default on a loan that came due yesterday, though on what terms was unclear as of late Wednesday. No default notices were reported issued in regards to the Dominican borrower’s $100m bridge loan via Deutsche and Morgan Stanley. The facility matured yesterday and people with knowledge of the process say they believe creditors and the company’s advisor, New York-based Weston Group, are in discussions to work out a solution that involves a discount on the fac

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