Ravelin Properties REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.RPR.DB

RE:Surprised here

[rad10]

Northforce13 wrote: Unexpected.  Very rare when a borrower is actively working to reduce debt.

This explains why Armoyan hasn't been buying.

Perhaps the lenders lost patience, maybe the CEO was semi slow walking asset sales and the lenders were unhappy.  The CC sort of indicates this possibility, wherein the CEO alludes to hoping debt markets thaw somewhat to facilitate asset sales, which would not only facilitate asset sales, but perhaps also take the pressure off selling assets and thereby allow Slate to hold more assets and achieve its prime directive of maximizing asset management fees.  

I guess we will see how this story plays out. 

I own some debentures, if they turn into a total fire sale upon market trading resumption, I might contemplate doubling down and buying more, though obviously the dbes are riskier than before.  The assets themselves are okish, the problems lie with the REIT itself.  

 

you might want to check with your broker before doubling down.  Will you be paying the accrued interest?  This will be a significant chunk, and dramatically change your cost basis.  I would check this before putting in a stink bid.