Trump looks to increase DIP financing to $26.5 million to pay taxes

By Caroline Salls

Pittsburgh, March 6 – Trump Entertainment Resorts, Inc. requested court approval to amend its debtor-in-possession credit agreement to increase the total amount of term loans to $26.5 million from $20 million, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

The total amount includes an increase of an “additional commitment utilization” amount to $12 million from $5 million. Of that amount, $8.93 million will be used to pay first-quarter real estate taxes by March 31, the motion said.

Trump said the maximum term loan commitment for other permitted purposes will be decreased to $14.5 million from $15 million.

A hearing is scheduled for March 19.

Trump Entertainment Resorts, an Atlantic City-based owner and operator of casino resort properties, filed for bankruptcy on Sept. 9. The Chapter 11 case number is 14-12103.

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