Cap Cana Announces Break Down of Negotiations with Bridge Loan Creditors

Cap Cana, S.A. (“Cap Cana”) announced today that its talks with the lenders of a US$100 million Bridge Loan arranged by Morgan Stanley and Deutsche Bank broke down on Friday, November 14, 2008. Efforts by Cap Cana’s principal shareholders to renegotiate and a request to extend the terms of the Bridge Loan, which matures on November 19, 2008, were not sufficient to satisfy the creditors (which included hedge funds) to which these...