Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Burnsville Developments Ltd. > News item |
Burnsville Developments in Minnesota defaults on loan payment for series 1998 revenue refunding bonds
By Cristal Cody
Tupelo, Miss., Oct. 7 - Burnsville Developments Ltd. failed to remit the loan payments due under a 1998 loan agreement for the series 1998 revenue refunding bonds from the city of Burnsville, Minn., for the Holiday Inn project, according to a notice.
The failure has sparked a default event, and U.S. Bank, NA, the trustee, paid the full interest payment that was due on Oct. 1 with a portion of the bonds' reserve fund.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.