Aras,
Good pick up on announcement. This quote from announcement shows one method of solving the problem in the short term:"Folowing the 30 June 2008 revaluation, the Loan to Value (LVR) of the Syndicate has increased to 65.4% while such a debt level is still within loan covenants, it is higher than is desirable. We are now making monthly loan repayments to reduce the debt level accordingly....As a result,the Syndicate has been forced to fund capital expenditure from its operational cash flow and to reinvest in properties using operational profit. Reduced cash is therefore available for distribution to investors."
Would seem to be a sensible approach to the short term problem.
Regards
Buffett
Aras,Good pick up on announcement. This quote from announcement...
-
- There are more pages in this discussion • 11 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)