UBS reviewing 'buy' call on EHT default event; stock suspended
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
UBS has placed its "buy" rating on Eagle Hospitality Trust (EHT) under review, after the US-based hotel trust called for a voluntary trading suspension on Tuesday while it deals with a loan default.
Last Friday, EHT was served with a notice of default in relation to a US$341 million syndicated loan. The default was triggered after EHT's master lessees came up short on their rent payments to EHT. This was despite EHT itself having met its own debt obligations to the lenders so far, but the banks have demanded immediate payment of the US$341 million.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
‘Largest Singapore commercial S-Reit proxy’: analysts say buy CICT shares after Paragon acquisition
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Why where you park your joint venture matters: Lessons from a US$689 million shareholder dispute
