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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Slate Office REIT 9 00 Convertible Unsecured Subordinated Debentures Exp 28 Feb 2026 > Convertible Debs seem like an Amazing deal? Thoughts?

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Post by BondManSlate on Jul 16, 2024 4:28pm

Convertible Debs seem like an Amazing deal? Thoughts?

Hello All - New to the board, any reason why someone would advice aganist adding Debs at these levels? from my limited DD I see the asset coverage for these is over 100%.

Thanks

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Comment by rad10 on Jul 18, 2024 1:43pm

unsecured with multiple debt covenants breached and a tonne of senior debt...... if it seems to good to be true..... IFRS valuations on their real estate holdings can be best described as "fanciful"

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Comment by BondManSlate on Jul 19, 2024 12:47pm

Appreciate your input. I have witnessed assets like this mispriced few times. It's also illiquid resulting in making it hard to find true valuation.

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Comment by canadian on Jul 21, 2024 2:08am

I believe the following factors will determine: 1) increasing occupancy 2) get rid of SLAM or atleast make fees dependent on share price 3) how quick the interest rates fall

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