Donald Trump is borrowing $ 1.2 billion for his skyscraper at Bank of America in San Francisco

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Donald Trump is borrowing $ 1.2 billion for his skyscraper at Bank of America in San Francisco

Former US President Donald Trump announced receiving a $ 1.2 billion loan. Opposite his skyscraper at Bank of America in San Francisco, without specifying the lender.

Donald Trump is borrowing $ 1.2 billion for his skyscraper at Bank of America in San Francisco

New York Times correspondent Maggie Haberman said in a tweet. “Trump announced in a statement that a $ 1.2 billion loan had been agreed upon. On the asset known as the Bank of America Building 555 California Street in San Francisco, California, the interest rate is about 2%.

Bloomberg reported that “investors bought $ 1.2 billion in bonds. In a deal described as being in line with other modern office tower deals.

Trump owns 30% of the building in San Francisco, which is majority-owned by the Vornado Realty Trust. According to Bloomberg, this building is among the tallest buildings in the city and represents about a third of Trump's $ 2.3 billion fortune.

“This loan replaces a previous $ 533 million loan,” Vornado said. Carries interest at a rate of 5.10% and was due to mature in September 2021.

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