GFI Capital faces $60M bond crunch over struggling NoMad hotel
Allen Gross’ GFI Capital said it might miss its next payment on a portion of its Israeli bonds if it cannot restructure its debt. A British Virgin Islands company tied to GFI disclosed in a filing on the Tel Aviv Stock Exchange on Aug. 10 that it might not have the funds to meet its principal and interest payments on nearly $60 million of bonds maturing on Dec. 1. The company, which owns the historic Beekman Hotel in Manhattan, is asking bondholders to grant it a three-year extension on the bonds’ maturity date. GFI said it will repay bondholders 50 […]
This article originally appeared on The Real Deal. Click here to read the full story.
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