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

Possible Buyout?

[pennylane101]

What are your thoughts on a buyout?  Slate is in breach of some debt covenants as of March 31, 2024, and so there is a possibility of CCAA if the banks demand full payment.  Interest rates can't come down soon enough. Meanwhile the economy is tanking but hey, the 2% inflation target is the only thing Macklem is focused on. I call this tunnel vision.

[pennydredful]

Well   its   sunny   today   but    50/50    whether   it  will  rain   next  week  or not.   I  was  saddened to  hear  Rex  Murphy   has   passed   away. 

[Ladislav3]

I don't expect banks to demand full payment because they would be left having a fire sale into a bad market instead of continuing to collect interest payments. It is better for them to have Slate try to sell properties instead (less risk and expense for the bank).

[pennydredful]

Eventually  the banks  will catch  on  that  SLAM  is   milking  the  cow  and   they  will  move   to  accept   their   loss. 

[pennylane101]

Exactly. Very good points!   Thanks for your comments.  I read  an article this morning about a City of Toronto plan to convert vacant office spaces into much needed residential units. Here is an excerpt from that article: "“If you look at the time to do a new build, versus a conversion, the conversions we’ve seen that once you’ve got your building permit, it’s about 12