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Article: Trump Entertainment Resorts Announces Proposal to Amend Its Credit Agreement.
- Article from:
- Business Wire
- Article date:
- September 21, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTIC CITY, N.J. -- Trump Entertainment Resorts, Inc. (NASDAQ: TRMP) (the "Company") announced today its plan to seek an amendment (the "Amendment") to its existing $500 million credit facility (the "Credit Facility"). Under the proposed terms of the Amendment, the Company intends to refinance its existing Term Loan B with a new Term Loan B with a draw period to be extended by six months from November 2006 to May 2007. The Amendment will also modify the definition of "EBITDA" for financial covenant purposes to allow the Company to add $8,000,000 of foregone EBITDA in the quarter ending September 30, 2006 to adjust for the impact of the closing of the Company's Atlantic ...