Finance experts lay out Trump’s payback options | National

Christel Deskins

The Times said Trump’s real estate company has $421 million in loans he has personally guaranteed, with $300 million of that coming due over four years. The Trump Organization did not immediately respond to an email and phone call requesting comment. Trump dismissed the Times story as “fake news” and […]

The Times said Trump’s real estate company has $421 million in loans he has personally guaranteed, with $300 million of that coming due over four years.

The Trump Organization did not immediately respond to an email and phone call requesting comment. Trump dismissed the Times story as “fake news” and said he is “extremely underleveraged.”

“I have very little debt compared to the value of assets,” he wrote.

Among his lenders listed in his personal financial disclosure are New York-based commercial lender Ladder Capital, which is owed at least $110 million, and Bryn Mawr Trust Co. a suburban Philadelphia bank, which held Trump debt worth between $5 million and $25 million for Seven Springs, a New York estate owned by the Trump Organization.

Trump’s biggest lender on his disclosure is Deutsche Bank, his chief financier stretching back two decades. It helped him buy and fix up several buildings in New York and Chicago and his Doral golf club in Miami. It is owed at least $125 million, with loans coming due in 2023 and 2024.

One option for Trump is to get his lenders to refinance his debt or to take out a new loan. Deutsche Bank is an obvious candidate to help him with either because it has been so forgiving to him over the years.

Trump defaulted on bonds that the bank helped sell to investors to finance his casinos in Atlantic City, New Jersey, and a bank loan for his Chicago hotel and condo tower, and yet the bank has continued to lend to him.

Source Article

Next Post

South African Stocks Edge Toward Quarterly Gain

(Bloomberg) — South Africa’s main stock index is steady as of 9:59 a.m. in Johannesburg on the final trading day in September. The benchmark is poised for 0.3% advance in the third quarter, a second consecutive quarter of gains. Capitec Bank Holdings Ltd. surges Wednesday after releasing its first-half earnings. […]