Donald Trump owes the banks at least 250 million dollars, a debt contracted to carry out various real estate projects. The Wall Street Journal writes it, citing as a source the documents attesting to the financial position of the candidate in the Republican primaries for the White House.
Trump's creditors - continues the American newspaper - are mostly small companies, from Amboy Bank of New Jersey to Ladder Capital Finance LLC, which specializes in real estate transactions.
Also according to the WSJ, the only institution with a massive presence on Wall Street that continues to lend money to Trump is Deutsche Bank. Since 2012, the German giant has granted the tycoon credits for over 300 million dollars. More recently, the Bank pledged to lend 170 million to Trump to help renovate the old Washington post office building, which the entrepreneur is transforming into a luxury hotel.
Conversely, Wall Street giants like Citigroup, Goldman Sachs, JP Morgan Chase, and Morgan Stanley have very little to do with Trump's business. According to some bankers - continues the WSJ - this is partly explained by the fact that the tycoon has slowed down on the development of multimillion-dollar real estate projects, limiting himself to managing them and thus reducing his credit needs.
According to Ivanka Trump, daughter of Donald, to date the capital of the Republican candidate invested in projects still in progress amounts to one billion dollars.
In the early 1,8s, the publicly traded company that ran its casinos was crushed by $2004 billion in debt. UBS and Morgan Stanley then advised to restructure the debt and contributed a $500 million loan in XNUMX.
Scott Butera, a former UBS banker hired by Trump to restructure the casino business, still recalls the tension between the company and a group of about 30 creditors, including several banks. "But, for better or for worse, Wall Street has a short memory - comments Butera, who today helps Trump in the electoral race - and all the difficulties that Donald has encountered, in the end, have been resolved".
