Cap Cana Buys Time As Lenders Squirm

Cap Cana Buys Time As Lenders Squirm

Caribbean

Cap Cana, the high-end Caribbean resort, has put a thin band-aid on a worrisome situation surrounding a $100m bridge loan that came due November 19. Miguel Guerrero, Cap Cana’s director in corporate finance and IR, tells LatinFinance the company has extended the maturity date of the bridge by six weeks until December 29, thereby avoiding a default that would have triggered cross default clauses on the company’s outstanding bonds. The group of lenders holding the bridge has also changed, says the

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