In Austin, $40M of Airport Hotel Bonds Remain in Default

Albanese, Elizabeth
April 2006
Bond Buyer;4/12/2006, Vol. 356 Issue 32359, p5
Trade Publication
The article reports that bondholders who own about 40 million dollars of unrated Austin-Bergstrom Landhost Enterprises Inc. debt from Texas received interest payments amounting to only 65 percent of the expected amount in April 2006. According to a material event notice released on April 3, the corporation owed just over 1.3 million dollars in interest payments on April 1, but only had 1.271 million dollars in its revenue fund. The debt included a tranche of senior lien bonds totaled 38. 75 million dollars.


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