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MFS Charter Income Trust V.MCR


Primary Symbol: MCR

MFS Charter Income Trust (Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to seek high current income, but also considers capital appreciation. The Fund primarily invests in debt instruments. The Fund also invests in corporate bonds of the United States and/or foreign issuers, United States government securities, foreign government securities, mortgage-backed securities and other securitized instruments of United States and/or foreign issuers, and/or debt instruments of issuers located in emerging market countries. It invests in a range of fixed income sectors, such as high yield corporates, emerging markets bonds, investment grade corporates, Non- United States government bonds, commercial mortgage-backed securities, mortgage-backed securities, collateralized debt obligations, municipal bonds, asset-backed securities and United States treasury securities. The Fund's investment advisor is Massachusetts Financial Services Company.


NYSE:MCR - Post by User

MFS Charter Income Trust > Back in after election trade.
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Comment by LTIH1324on Dec 05, 2019 2:44pm
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Post# 30426069

RE:RE:RE:RE:RE:RE:Back in after election trade.

RE:RE:RE:RE:RE:RE:Back in after election trade.Also, as a follow up to the above, a significant amount of cap ex in 2019 ($25 mil in the first 9 months and $13 mil estimated for Q4) was growth cap ex to get the fleet up to a max use capacity to work on two major pipelines (TMX & CGL) simultaneously. Based on my work, this is pretty close to the growth cap ex needed to facilitate the backlog (of course with maintenance cap ex still needed) – perhaps a little more in early 2020.
 
Cormark has the projected cap ex spend dropping to $15 mil in 2020, so obviously less growth cap ex needed in their view and a higher percentage of the cap ex spend as pure maintenance.

The question on more growth cap ex in the coming years depends on new projects/facilities work and the capacity of the existing fleet to service the new work. Anyone have any insight on fleet capacity & growth cap ex issues?     

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