Tarvold you make a good point. Potentially the bankers could accept a temporary accomodation of covenant breaches, however I expect they would require loan principal amortisation to bring back within limits within a target timeframe. That would necessitate either the cap raising (immediate fix) and/or a temporary reduction or pause in dividends (but that might have issues around REIT status??? Not sure)
Ann: Dividend/Distribution - COF, page-110
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