DALLAS, Dec. 21 /PRNewswire/ -- Beal Bank Nevada announced today the origination of a new $500 million first lien mortgage credit facility to Trump Entertainment Resorts, Inc. ("Trump Entertainment") . The transaction effectively refinances all current first-lien debt for Trump Entertainment properties in Atlantic City, including the Trump Taj Mahal, Trump Plaza and Trump Marina.
Beal Bank Nevada was selected to provide the refinancing for Trump Entertainment due to Beal Bank Nevada's competitive terms and certainty of funding. Commenting on the transaction for Trump Entertainment, Chief Executive Officer Mark Juliano said, "From our initial conversation to the closing of the deal, we have continued to enjoy working with Beal Bank Nevada on this new credit facility, as we have in the past. We believe that the execution of this agreement in today's credit market is an endorsement of our strategic plan, and we are very pleased to have Beal Bank Nevada as a key partner."
In confirming the transaction, Andy Beal, the founder and President of Beal Bank Nevada, said, "This transaction represents another opportunity to do business with Trump Entertainment and we enjoy working with Donald Trump. We are pleased to be able to provide this financing to Trump Entertainment."
About Beal Bank Nevada: Beal Bank Nevada is a well-capitalized financial institution, with headquarters located at 3763 Howard Hughes Parkway, Suite 100, Las Vegas, NV 89169. Beal Bank Nevada is a member of the FDIC.
Contact: Jacob Cherner
Phone 469-467-5563
Fax 469-241-9567
