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Trump Reportedly Considers Selling Shares to Lessen Debt

April 12, 1991|From Reuters

NEW YORK — Donald J. Trump is thinking of selling public shares in his vast but debt-laden real estate and casino empire, sources close to the Trump Organization said Thursday.

When asked about the talk in an interview, Trump said: "I wouldn't confirm or deny it."

But he said: "It's something that could be considered. A lot of people would like me to do it. A lot of Wall Street people would like me to do it."

The Trump sources would not specify a time frame for such an offering, with one source saying only that it could be "some time down the road."

Trump has been struggling for a year to reduce his more than $3-billion debt load, and an equity offering--if warmly received--would surely help him achieve that goal.

The cash-strapped developer has gradually been selling off properties or giving up stakes in his assets in order to pare his crippling interest costs.

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