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Santo Domingo.– Cap Cana has extended the Consent Payment Deadline for its previously announced exchange offer and consent solicitation originally announced on March 31, 2009, for any and all of its outstanding 9.625% Senior Secured Notes due 2013.

According to a press release, holders that wish to receive the consent payment referred to below must validly tender and not validly withdraw their Existing Notes on or prior to 5:00 p.m., New York City time, on April 20, 2009, unless further extended. The Exchange Offer and Consent Solicitation will expire at 11:59 p.m., New York City time, on April 27, 2009, unless extended.

Holders tendering their Existing Notes will be required to consent to proposed amendments to the indenture pursuant to which the Existing Notes were issued, which would eliminate substantially all of the restrictive covenants contained in the Indenture and the Existing Notes themselves, eliminate certain events of default, modify covenants regarding mergers and consolidations, and modify or eliminate certain other provisions contained in the Indenture and the Existing Notes themselves.

Holders may not exchange their Existing Notes without also delivering consents and may not deliver consents without also exchanging their Existing Notes. Cap Cana is offering to pay holders of Existing Notes a consent payment of US$5.00 per US$1,000 principal amount of Existing Notes.

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COMMENTS
5 comment(s)
Written by: ToxicAvenger This user is banned, 11 Apr 2009 12:46 PM
From: United States, Angola prison Louisiana
It will happen yes it will come to pass and the DR will be the better much better for it no matter what the whiners say
Written by: Juango, 11 Apr 2009 4:05 PM
From: United States, far S. Florida (formerly Santo Domingo)
What the hell does this mean? Can someone explain the article? I have read the last paragraph 4 times and still dont get it!
Written by: ToxicAvenger This user is banned, 11 Apr 2009 5:46 PM
From: United States, Angola prison Louisiana
clear as mud
Written by: ToxicAvenger This user is banned, 11 Apr 2009 7:44 PM
From: United States, Angola prison Louisiana
probably the same people who act as moderators or censors
Written by: Manhattanite, 13 Apr 2009 11:00 AM
From: United States
Juango do a search for the older articles on this topic. I exchanged comments with dreadlocks explaining what I understand to be going on based on the press releases. In short the investors who lent money to this project are being asked to accept new terms of repayment and interest rates so the project can go on.
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