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Bullboard - Stock Discussion Forum Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

Alternate Symbol(s): SLTTF | T.SOT.UN | T.SOT.DB.A | T.SOT.DB.B

Slate Office REIT (the REIT) is a Canada-based global owner and operator of workplace real estate. The REIT is an unincorporated, open-ended real estate investment trust. The REIT owns interests in and operates a portfolio of real estate assets in North America and Europe. The REIT's portfolio is primarily comprised of government and credit tenants. The REIT's portfolio consists of... see more

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Comment by rad10on Nov 08, 2024 3:40pm

RE:RE:Interest coverage ratio

I got enough debs - less than 1% allocation.

Discussion

Comment by pennylane101on Nov 08, 2024 3:37pm

RE:Interest coverage ratio

Let me guess, you were the guy hoping to load up on debentures on the cheap at 10 cents this morning. Yeah, didn't work out. ;0)

Discussion

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Comment by pennylane101on Nov 08, 2024 3:33pm

RE:RE:RE:RE:I expected

With half of the debentures converted to units, there would still be massive dilution for current unit holders. Do you have any idea what that would look like? Yes, there was a massive selloff today ...more

Discussion

Post by rad10on Nov 08, 2024 3:18pm

Interest coverage ratio

Does that allow for the debentures being in default? If so double ouch.............. No wonder secured pulled the rug

Discussion

Comment by rad10on Nov 08, 2024 3:15pm

RE:RE:I expected

Its a possible scenario. Seems reasonable. Interest coverage ratio now 1.3x - ouch Something has to give. Get the popcorn and watch GA extract value FOR HIMSELF. Hope you get on ...more

Discussion

Comment by rad10on Nov 08, 2024 3:08pm

RE:Thoughts...

you can be sure there is an ad hoc committee of debenture holders. Debentures will be converted with a 66% vote (need to check this in the indenture). Why would the board waste time when ...more

Discussion

Comment by HRc60to65on Nov 08, 2024 2:57pm

RE:RE:RE:I expected

A partial conversion of debentures to minimize the common shares dilutions

Discussion

Comment by Tree2treeon Nov 08, 2024 2:25pm

RE:RE:I expected

HR, I'm not sure why you think the debentures will be partially converted to commons, but the outcome you are predicting would not be bad. I also added some debentures today on the dip.

Discussion

Comment by HRc60to65on Nov 08, 2024 2:03pm

RE:I expected

I had bought debenture today. I believe debenture will be refund in full + all due interest. Debenture will be converted in a mix like: 50% of the face value in new debenture at 5 ...more

Discussion

Post by divime1on Nov 08, 2024 12:02pm

I expected

to see a blood bath this morning . Many like myself are down so what's the point of selling now . I will stick around to see how this plays out .It's been a great year in the ...more

102

Discussion

Comment by Tree2treeon Nov 08, 2024 11:49am

RE:RE:RE:RE:RE:Debenture Holders Now the Key to Restructuring

"Why take the properties off the selling block?" My guesses: 1. The market has not rebounded to the extent that they could be sold at a good price. Selling at a ...more

Discussion

Comment by pennylane101on Nov 08, 2024 11:36am

RE:RE:RE:RE:Debenture Holders Now the Key to Restructuring

Right! Why take the properties off the selling block? It makes no sense. Something is up and you can be sure Armoyan will benefit. The debt holders do NOT want a liquidation (or we could have ...more

Discussion

Comment by Tree2treeon Nov 08, 2024 11:04am

RE:RE:RE:Debenture Holders Now the Key to Restructuring

Somebody pointed out that GA recently sold assets for over $100 million, I don't remember the exact amount. And people like that have friends. Re the "untenable" debt ratio, ...more

Discussion

Comment by TVRon Nov 08, 2024 10:50am

RE:RE:Debenture Holders Now the Key to Restructuring

T2T - No question Arrmoyan is probably the largest unitholder and would certainly want to recover on his investment. However, I do not htink he is a large enough unitholder or has deep enough ...more

Discussion

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Bullboard - Stock Discussion Forum Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

Alternate Symbol(s): SLTTF | T.SOT.UN | T.SOT.DB.A | T.SOT.DB.B

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