TSX:NWH.DB.G - Post by User
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InvestSmarteron Nov 08, 2023 7:56pm
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Post# 35724993
New $140,000,000 Loan at crazy 11.6% rates
New $140,000,000 Loan at crazy 11.6% rates11.60% on 140M? ouch.
On October 25, 2023, the REIT executed a term loan for total proceeds of $140.0 million, bearing initial variable interest of 11.6%, maturing on April 26, 2025. The loan is secured by certain Brazil properties. The proceeds were used to repay the $50.0 million revolving credit facility maturing on October 31, 2023 bearing interest at 12.31%. The remaining proceeds were used to repay additional variable rate debt.
Management needs to get this madness under control.