Investors Gamble On Trump

Donald Trump sold $295 million in stock and debt in a sweeter-than-expected transaction prompted by investor concerns about his track record and the risks posed by his casino expansion projects.

The casino and real estate developer boosted the yield on the $155 million in notes to 15.5 percent, a full percentage point more than he expected to pay when he first started marketing the bonds.

He also raised $140 million through the initial public sale of 10 million shares at $14 each, the bottom of the expected range of $14 to $16. The stock closed unchanged on trading of 1.6 million shares.