TRUMP NEGOTIATING TO ADJUST DEBT

November 23, 2001 11:16 PM
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Millionaire casino magnet Donald Trump said he would be making a $73 million payment within days to cover interest past due on bonds.

Trump had announced on Oct. 31 that he would not make the payment. If he fails to make payment by the end of November, Trump would be in default and bondholders would have the right to send the company that issued the debt, Trump Atlantic City, into bankruptcy.

Trump has been hurt by the events of Sept. 11 along with the recent legislation that called for increased gambling in New York State in Buffalo, Niagara Falls and the Catskill Mountains.

Attorney David Friedman said Trump is now more willing to pay his bondholders.