CapCana to Miss Interest Payment

CapCana to Miss Interest Payment

Dominican Republic Bonds Corporate & Sovereign Strategy

CapCana announced it will not pay a $4.8m interest payment originally due last month, once again pushing the troubled Dominican resort into default. The interest was due Oct. 31 for the 10% 2016 senior secured notes, a portion of the debt which CapCana issued as an exchange for 2013 bonds in 2009, after it fell in technical default for failing to keep enough cash in its debt service account. CapCana observers point out that the instruments are not actively traded, as many investors expected the

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