TSX:AX.PR.E - Post by User
Comment by
EstevanOutsideron Mar 31, 2023 9:42pm
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Post# 35373192
RE:Arti's debt
RE:Arti's debt It's floating rate debt based off a 90 day t-bill. So that 8% is expected to fall as the pref being converted are floating rate from fixed rate J-series.
They'll also buyback prefs in the meanwhile.
Overall this decision was the prudent use of capital.
Short term mitigation. Buyback units which are also yielding 8% with massive upside potential if you believe the discounted NAV. This value could be restored by planned dispositions which Manji already stated is his priority with annual letter.