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perps
REITs
Changes in ICR, leverage to come into effect immediately, with additional disclosures in March
MAS has streamlined financial reporting to include adjusted ICR of 1.5x and leverage of 50%, including impact of perps.
10 hours ago
Bonds and treasuries
Are fixed rate perpetuals diamonds in the rough?
We think the attractiveness of FFL perpetuals will hinge on the longer-term interest rates outlook
July 05, 2023
REITs
REITs can't fully camouflage gearing with perpetual securities
Perpetual securities have been used to camouflage gearing but will be unable to do so with ICR to be implement in 2022.
October 06, 2021