El Comandante misses interest payment on mortgage notes, won't redeem $10.2 million

New York, Dec. 17 - El Comandante Capital Corp. said it will not make the interest payment due Monday on its $68 million of mortgage notes secured by El Comandante Race Track nor will it redeem $10.2 million principal amount of the notes as required under the indenture securing the notes.

El Comandante said it is exploring ways to pay the interest during the 30-day grace period and to complete the redemption. The company, a wholly owned subsidiary of Housing Development Associates SE which in turn is owned by Equus Gaming Company LP, said it is in discussion with government and banking officials in Puerto Rico but has no binding financial commitments at this point.

End

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.