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

More people reading

[Tree2tree]

There's a big increase in the number of people reading posts on this board these days.  Is SOT being talked about somewhere?  It ought to be of interest to the kind of investors willing to take some risk for a potential payout many times the investment.

[Sunsurfer12]

Sold out of Slate years ago due to lack of confidence in Welch brothers who seemed only interested in what they can take out of SOT.  I think this will eventually go private as it has no business and no upside to being public with Welch's hanging around...i.e. no access to new capital. Equity holders will suffer for another couple of years as non core properties are disposed and debt

[rad10]

Debentures are unsecured.  They are screwed aren't they?

[Sunsurfer12]

They rank after banks but before equity..including the Class B..not saying there is no risk..there may be a grand bargain where debentures get a haircut but still safer generally than straight equity. My speculation is there is enough equity in the after bank debt assets to fully cover the debentures..while equity holders would love to have the theoretical hammer of saying..if you don't agree