Bullboard - Stock Discussion Forum Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 T.SOT.DB

Alternate Symbol(s): SLTTF | T.SOT.UN | T.SOT.DB.A | T.SOT.DB.B

Slate Office REIT (the REIT) is a Canada-based global owner and operator of workplace real estate. The REIT is an unincorporated, open-ended real estate investment trust. The REIT owns interests in and operates a portfolio of real estate assets in North America and Europe. The REIT's portfolio is primarily comprised of government and credit tenants. The REIT's portfolio consists of... see more

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TSX:SOT.DB - Post Discussion

Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 > 7.5% debentures

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Post by BB123456 on Oct 17, 2022 7:46pm

7.5% debentures

You can buy the 7.5% debentures which are convertible at $5.50 or just buy the common at $4.41 and get a 9.3% yield and get all the stock upside. Other than if you think the common share dividend will be cut or the common share price will tank, anyone see a good reason to buy the debentures?

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Comment by pennydredful on Oct 17, 2022 10:21pm

.40 divided by 4.41 gives yield of 9.07% not 9.3% .

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Comment by Tree2tree on Oct 18, 2022 9:58am

BB, I think the debentures are designed for a different type of investor, including institutions, which is ok with me.

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Comment by Tree2tree on Oct 18, 2022 10:24am

Btw, it seems SOT investors (myself included) are relieved that the halt was not for bad news! Although I wouldn't have minded to see a buyout at a 50% premium.

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