Trump Ocean Meets Coupon

Trump Ocean Meets Coupon

Panama

Newland International’s Panama-based Trump Ocean Club project met its coupon payment Friday without any unexpected hitches, say officials at the company. The funds for the $11m coupon were already sitting in a debt service reserve account ahead of the due date, which led analysts to assume there would be no question as to the company’s ability to make payment. The service is for a $220m 9.5% of 2014 bond issued via Bear Stearns in 2007. The bond has a similar structure to a $250m 9.625% of 2013

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