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REITs
LMIRT reopens 12 malls, resets perps because of challenges tapping bank debt and capital markets
LMIRT's manager, aware that it is unable to tap bank debt and capital markets, resets perps, and is likely to reopen 12 malls
August 18, 2021
REITs
First REIT’s manager announces reset of perps, cites adverse market conditions for non-redemption
First REIT announced a reset of its perpetual securities instead of redemption citing adverse market conditions
July 07, 2021
REITs
Features that make perpetual securities of REITs more equity-like than debt
Certain features make perpetual securities - which are back in fashion - more equity-like than debt-lik
June 11, 2021
REITs
ART sets precedence with perpetual securities; other REITs could follow
On May 29, 2019, Ascott Residence Trust’s (ART) manager announced that it has decided not to redeem its 4.68% $250 million of perpetual securities on June 30, the first call date.
June 05, 2020