Trump term loan, note forbearances extended to Feb. 4

By Caroline Salls

Pittsburgh, Jan. 22 - Trump Entertainment Resorts Holdings, LP and Trump Entertainment Resorts Funding, Inc. said the default forbearances related to a missed interest payment on their 8½% senior secured notes due 2015 have been extended to Feb. 4 from Jan. 21, according to an 8-K filed with the Securities and Exchange Commission.

As previously reported, Trump did not make the interest payment due Dec. 1 on the notes.

On Dec. 31, holders of roughly 70% of the outstanding principal amount of the notes and the lenders for the company's $490 million senior secured term loan agreement agreed not to act on the payment default until Jan. 21.

Trump said it is still in discussions with the lenders and noteholders regarding a possible restructuring of the company's capital structure.

Trump is an Atlantic City-based owner and operator of three casino resort properties.

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