Thompson cuts interest payments on note program

11/20/2012 | InvestmentNews (free registration)

A lower-than-expected payout is in store for investors in a Thompson National Properties note program after a majority of holders voted to accept modified terms. Investors will see "significantly" lower interest payments than the promised 12%, although maturity is being extended to 2016, according to an SEC filing. The changes allow Thompson, which sponsors the nontraded REIT TNP Strategic Retail Trust, to avoid a default on the program.

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