Posted Monday, August 31, 2009 9:54 AM | Contributed by Jeff
Spielberg is standing between the resort and an April 1, 2010, deadline to refinance $1 billion worth of debt. If he opts to receive a pay-out, that makes it difficult for Universal to restructure its corporate debt, because banks that lend money to the resort beyond June 2010 risk finding themselves in line behind Spielberg. Still, analysts think it is unlikely that Spielberg would want to exercise a buyout any time soon because of expansion in Orlando and elsewhere that could make the contract more lucrative.
Read more from The Orlando Sentinel.
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