Kerzner debt fight resolved in 'short term'

Wed, Jan 25th 2012, 09:00 AM

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

KERZNER International (Bahamas) chief yesterday suggested the fight between the company's lenders over its $2.5 billion debt is likely to be resolved "in the short-term", with the original $175 million debt-for-equity swap proposed by Brookfield revived in an adjusted form.

The comments came as Kerzner International gears up to finalise and implement its annual $60-$65 million capital investment programme at its Atlantis and One & Only Ocean Club resorts, an undertaking that usually sees it renovate between 600-700 rooms in a 12-month cycle.

Speaking at a press conference at the Caribbean Hotel and Tourism ...

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