Sias quizzes Manulife US Reit manager, sponsor over recapitalisation plan

SECURITIES Investors Association (Singapore) has posed a string of questions to the manager of Manulife US Real Estate Investment Trust (MUST) on the plans to raise funds through a mix of asset dispositions and a sponsor-lender loan.

The investor watchdog met the sponsor, the senior management of the Reit’s manager, and about 300 unitholders on a virtual platform on Wednesday (Dec 6) to better understand the fund-raising proposal announced on Nov 29.

Following the discussion, the investor watchdog, known as Sias in short, sent the Reit manager’s board and chief executive officer a list of 13 questions on the proposed recapitalisation and sponsor-lender loan, as well as on a recent acquisition. Sias also asked whether the interests of the sponsor and manager were aligned with those of the unitholders.