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ManulifeReit USD
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Oil and Gas counters are volatile
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marketuncle
Veteran |
29-Nov-2023 15:02
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if resolutions didnt' go through and lenders take over to accelerate liquidation, shareholders might get back much more (though no where close to NAV at fire sale) and immediately than last traded share price? | ||||
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mav1ryan
Veteran |
29-Nov-2023 14:35
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Wow, those jeep at U$0.04x and helped pushed all the way to U$0.09 had entered the bear trap... Long term investors also siao liao... From the report, if don' t agree their resolutions means immediately up lorry. Agree resolution also means mati with counter open again. |
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Kandee
Senior |
29-Nov-2023 13:04
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Once the transactions are completed, I suspect that Manulife will issue a rights issue to lower the gearing from 49.2% to make it a more comfortable 40%, unless the asset' s value rises, which I think is very unlikely in the near term.
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marketuncle
Veteran |
29-Nov-2023 12:07
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looks like a gun to the head proposal: ... " In the event that Unitholders do not approve any of the Resolutions, the Existing Facilities would remain in breach and the Lenders have the right to accelerate the payment of all US$1,023.7 million of loans immediately. In such a situation, Manulife US REIT does not have sufficient cash to repay all of the Existing Facilities and would need to conduct an expedited liquidation of its portfolio. In addition, not passing the Resolutions effectively means that Unitholders would be voting to put control of Manulife US REIT in the hands of the Lenders. |
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superstartup
Supreme |
29-Nov-2023 12:00
Yells: "Enjoy doing Fundamental Research" |
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After all these re-structuring, quite surprise that equity fund raising still in the cards even with continued suspension of dividend pay out |
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Stocky901
Supreme |
29-Nov-2023 11:56
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Haha it looks like not a good news. Opening price after trading halt lifted should be below 0.08.. hopeless..🧐 🤫 | ||||
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checkmate
Member |
29-Nov-2023 11:47
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From the presentation slides, after sponsor loan and tranche 1 disposals, assuming no change in valuations and with loads of assumptions, liabilities to drop $350m and assets to drop $500m. Even with that, gearing would be at 49,4%. Shows how big of a hole they are in, but still better than liquidation and trust managers still have their jobs. |
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Fallingman
Senior |
29-Nov-2023 11:35
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Thot someone said that the offer is compelling? haha I think it is compelling for the sponsors. retail investors get no stick at all. Just sliding share prices. | ||||
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marketuncle
Veteran |
29-Nov-2023 10:03
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Easier to digest this. https://www.theedgesingapore.com/news/reits/manulife-us-reit-restructures-existing-facilities-through-recapitalisation-plan-reduce |
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noobnub
Supreme |
29-Nov-2023 09:58
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Ah long got lose money meh....local ah long you borrow $1 they give you 80c straight kope your 20c hahaha. Market so challenging sponsor having a good year. Buy manulife insurance not the reits haha
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cmengchan
Senior |
29-Nov-2023 09:50
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Sponsor Loan at 7.25% interest, paid quarterly. Exit premium at 21.16%, meaning payback loan on maturity at high premium. No DPU till end Dec.
Not sure if this is good solution for shareholders.
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noobnub
Supreme |
29-Nov-2023 09:41
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Hahaha now wait for more opp to short after halt
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Goldfinger
Supreme |
29-Nov-2023 09:05
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At least the share price should hopefully recover more by then. The worst case scenario was a massive private placement to a predator new player at 5 cents a share.
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marketuncle
Veteran |
29-Nov-2023 09:02
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" The Recapitalisation Plan is just the first step of building a foundation that will put Manulife US REIT on a path to growth for the long-term. The Manager may re-approach Unitholders for an equity fund raising in the future, but only after divesting the Tranche 1 Assets and/or the Tranche 2 Assets."
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Goldfinger
Supreme |
29-Nov-2023 09:02
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No point give you 2 cent dividend and take back 5cents rights. Also if they offer a 2 for 1 rights issue at 5 cents, how many can afford to take up full allotment? | ||||
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Goldfinger
Supreme |
29-Nov-2023 08:59
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Positive. - no massive dilutive placement or rights issue. The Reit should be able to survive. | ||||
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tuntun
Veteran |
29-Nov-2023 08:59
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How long will halt? Any ideal? | ||||
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SmallSmall
Supreme |
29-Nov-2023 08:59
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Good news lah. Means company has passed the ICU stage. Retracement would be good buying opportunity before it elevate towards the $0.15 level. Bill Ackman in fact thinks the Fed will start to cut rates early next year because of the slowing economy which I share the view. | ||||
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tofudidi
Supreme |
29-Nov-2023 08:52
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US reits still holding strong.. over here in sgx just profit taking, move to next high soon!  
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marketuncle
Veteran |
29-Nov-2023 08:29
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don' t really look good to me but between liqudation and restructuring, the latter is still considered ' ' better' ' . The question more should be after restructuring, what is MUST really worth? The shareholders don' t really have much choice though. | ||||
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