Nov. 9 (Bloomberg) -- Cap Cana SA, a luxury resort and real estate development in the Dominican Republic, said today that it defaulted on bonds due in 2016 after failing to make an Oct. 31 interest payment.
Cap Cana missed an interest payment of about $4.8 million and “based on its currently projected cash flows, it will not be able to resume interest payments on the 2016 notes for the foreseeable future,” the company said in a statement today.
The company said it will hold a conference call with investors to discuss the matter on Nov. 18.
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