Not linked by first thought. Needs to sack people to meet his revenue per capita target. Chose to issue bonds over issuing equity because the share price isn't high enough to make equity raising a sensible decision. At $1.50 a share, the rate on bonds must be about 15%~20% to be more costly than issuing new capital.
I think dick is spewing because he probably sold the 10% to sophisticated investors on the promise they would help push the price up and they didn't stick to their end of the deal. Don't forget such an act would be easy given how much of the capital they own.
The dividends are tricky. It states cash distributions will be limited in the bond offering release but it doesn't state to what the cash distributions will be limited or any such thing about equity distribution so they could continue paying out a high dividend if they guarantee a minimum reinvestment plan participation. Maybe they want to keep dividends high because they hold within a super fund and want dibs at the franking credits? Maybe they think shareholders will look favorably on the high dividend. The exact thoughts are well beyond my comprehension.
Why don't you ask dick yourself. He will probably answer your questions based on comments from other posters.
DDR Price at posting:
$1.58 Sentiment: Buy Disclosure: Held
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