Sienna Senior Living Inc LWSCF

Regarding Debt, AFFO etc, Listen to 2023 AGM

[joebravo]

During the AGM Q&A around the 29m 45s mark, they spoke about the current interest rate hikes and how they are affecting the bottom line. About 95% of Sienna debt is at fixed rates.

Sienna stated that they are in great shape with approx. $130 million coming due this year which will be refinanced with CHMC at a fixed rate of 3.7% for 10 years if I remember correctly.

They said it is slightly higher than previous rates, but it is being well managed.

Here's a link to the 2023 AGM Shareholders meeting for Sienna. Skip to the 13 minute mark for the presentation. Very positive IMO.

Sienna 2023 Annual & General Meeting

[joebravo]

Just to clarify my last post. The CFO stated that their current debt is financed at 3.7%, but that they will be refinancing using CMHC at a rate which is still under 4% but is slightly higher than the current fixed rate. The new fixed rate is still quite low, and very manageable as to his statement, and which is evident in the recent financials as the AFFO has improved. I believe that when 2Q

[poolll]

If you are able to take a long-terrm loan  at 4% and pay an 8% dividend, indeed, the share buyback seems appropriate.

[joebravo]

Important thing is the AFFO.  As long as payout remains below AFFO, we're good. And if AFFO keeps improving, so should the share price, but right now Sienna is undervalued to its peers both regarding Yield, and with Total Assets, Debt and Market Cap. Extendicare has approx. $400 million in Debt, Total Assets of $745 Million and a MC of $605 million. It's MC is 81% of its total