HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Trump Scores $617 Million...

Fri Apr 30, 2021, 06:01 PM

Trump Scores $617 Million of Cash With Vornado From Tower Bonds

Source: Bloomberg

Investors snapped up $1.2 billion of bonds linked to a San Francisco office tower that makes up much of Donald Trumpís fortune.

The AAA slice of the commercial mortgage-backed security sold Friday with a discount margin, or risk premium, of 125 basis points over one-month Libor -- roughly in line with other recent office-tower deals.

...

The complex, among the tallest buildings in San Francisco, is one of two Trump-linked office towers that Vornado is refinancing. The other is in New York. While Vornado majority owns them, Trumpís 30% stake is the most valuable part of his portfolio, making up about one-third of his $2.3 billion fortune, according to the Bloomberg Billionaires Index.

The refinancing -- and cash windfall for Vornado and Trump -- comes months after several banks tied to the former president said they would no longer work with him after the deadly U.S. Capitol riot in January.

Read more: https://www.bloomberg.com/news/articles/2021-04-30/trump-scores-617-million-of-cash-with-vornado-from-tower-bonds



I guess he isn't going bankrupt anytime soon.

10 replies, 2925 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread

Response to Calista241 (Original post)


Response to Calista241 (Original post)

Fri Apr 30, 2021, 06:35 PM

2. Like everything Trump, it's not as impressive as it sounds.

Trump's share is 30%, or a one-time payoff of $185 million. Barely enough to retain his lawyers.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Beastly Boy (Reply #2)


Response to Beastly Boy (Reply #2)

Fri Apr 30, 2021, 08:51 PM

5. 30% of 1.2 Billion is a lot more than $185M. Wasnt the total deal 1.2B?

still hate to see him get a dime

Reply to this post

Back to top Alert abuse Link here Permalink


Response to oldsoftie (Reply #5)

Fri Apr 30, 2021, 09:46 PM

8. It was a 1.2 B deal to refinance a loan.

About 600 M was the total take home payoff. 30% of it was Trump's.

I feel bad for the lawyers (never thought I would say this). Working for the scumbag and not getting paid. At least there is hope for them now.

On edit: he still owes 30% of that 1.2 B loan, but it's due 20 or 30 years from now.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Calista241 (Original post)

Fri Apr 30, 2021, 06:43 PM

3. Well, there are different types of bankruptcy, the financial and the moral. I've never

understood people like former guy and sPUTIN. They can't take it with them and they
don't seem to care that people will be lining up to perform bodily functions on their graves.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Calista241 (Original post)

Fri Apr 30, 2021, 08:58 PM

6. Not Buying It

He's not worth $2.3 billion.
Nowhere even close.
His NW just went up because the market once again inflated asset value.
But, his NW is now no more than 40% of what's listed.
Debt is still grossly understated, and asset value of his resort properties are wildly inflated.
The financial community knows this. Investors are either ignorant or don't care because a much bigger entity is who the bet is actually on.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Calista241 (Original post)

Fri Apr 30, 2021, 09:44 PM

7. Whatever he "made" from the deal

is probably not as much as he already had it hocked for. Not to mention what he owes on every other cash-hemohrraging "asset" he has.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Calista241 (Original post)

Sat May 1, 2021, 12:14 AM

9. He'll default, the suckers will end up with a big office building

and we know after the past year a lot of corporations, especially tech corporations, are going to be reassessing their need for offices.

Not a deal I jumped at.

Reply to this post

Back to top Alert abuse Link here Permalink


Reply to this thread