I agree that a debt reduction program would be a sound approach. It would emsure that AET was not at the mercy of the banks and help avoid penalty rates. I am not across their current loan details but it would be relevant when and how they come up for review.
Would be surprised if they flog assets other than development sites and closed centres. Given the size of the trust we might be able to send a signal that we would not be happy with less than a pro-rata rights issue if a capital raising is on the cards.
I, for one, would be happy if income was used to reduce debt rather than pay dividends.
FET Price at posting:
27.8¢ Sentiment: LT Buy Disclosure: Held
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