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CSFB Affiliate Might Invest $400M in Trump

NEW YORK CITY-An affiliate of Credit Suisse First Boston is exploring the possibility of infusing $400 million into Trump Hotels & Casino Resorts. The funds would be allocated toward expansion and development efforts.

By Barbara Jarvie | Updated on February 13, 2004

NEW YORK CITY-DLJ Merchant Banking Partners III LP, an affiliate of Credit Suisse First Boston, entered into an exclusive arrangement with Trump Hotels & Casino Resort where DLJMB is looking at making a $400 million investment to sponsor a comprehensive recapitalization of Trump.

If the potential deal is approved, the company would change its name to Trump International Corp. DLJMB would become the majority shareholder, with Donald Trump continuing as the company chairman and remaining a significant equity holder. Plans include an expansion of current properties, as well as additional development.

Consolidated net loss for the year ended December 31, 2003 was $87.3 million, compared to a net loss of $12.0 million, for the year ended December 31, 2002.

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