Speculation behind today's weak rally is that the property trust is about to get a very hot go thrust upon it.
The stapled property trust is owed a whopping $1.5bn by the disgraced building company. It pays interest to the trust which distributes it as income.
Now they are talking about a)reduce the interest paid the trust and b) consider converting the loan to shares in the building company.
Am I dreaming? Is this true? How would they ever get away with it?
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