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TRUMP, BANKS REACH AGREEMENT

Donald Trump and his bank lenders have reached a tentative agreement to restructure the $3 billion debt load the developer ran up in assembling his real estate empire, a newspaper reported.

The New York Times said today that Trump's four lead banks agreed to lend him $65 million and defer interest and principal payments on about $850 million of the developer's nearly $2 billion in bank debt.

The agreement hinges on the four banks getting other lenders, particularly Japanese banks that are involved in loan syndicates for Trump, to agree to the deal, the newspaper said.

The new loan package will be secured by nearly every asset in Trump's real estate and gambling empire, it said.

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