Unitholders of Manulife US Reit caught between a rock and a hard place
A LIFELINE was thrown to Manulife US Real Estate Investment Trust (MUST) last week, some four months after the Reit breached financial covenants.
The rescue package – in the form of a three-part recapitalisation plan that entails selling assets and taking a loan from its sponsor – provides MUST with a longer timeline to navigate out of its current troubles.
It is logical for unitholders to vote in favour of the recapitalisation plan at the upcoming extraordinary general meeting (EGM), but investors are still caught between two unpalatable situations.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Sats picks former Cisco Apac head as chairman-designate
CapitaLand India Trust appoints new CEO-designate
Commodities hit highest in a year, posing new inflation threat
Visa adds new way to share customer shopping data with retailers
Stablecoin issuer Circle to make US legal home ahead of listing
Coinbase targets crypto demand in US$600 billion Australian pension sector