Trump term loan, note forbearances further extended to Feb. 17

By Caroline Salls

Pittsburgh, Feb. 11 - Trump Entertainment Resorts Holdings, LP has secured one-week extensions to the noteholder and senior secured term loan lender forbearances related to the company's failure to make the interest payment due Dec. 1 on its 8½% senior secured notes due 2015, according to an 8-K filed with the Securities and Exchange Commission.

Both forbearance periods were extended to 9 a.m. ET on Feb. 17 from 4 p.m. ET on Feb. 11.

As previously reported, 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 originally agreed on Dec. 31 not to act on the payment default until Jan. 21.

The forbearances were subsequently extended to Feb. 4, then to Feb. 11.

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

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

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