Another Fool's Day,;7 years ago

“… we must remember this, a pif is just a pif;”

Avenue’s conflicted connection to troubled MFS
Adam Schwab writes: | Apr 01, 2008 12:00AM

[ While MFS changes its name to Octavier and continues its battle for survival,
another piece of MFS is in even more strife.

The MFS Premium Income Fund —  technically a separate entity but managed by MFS — 
has already suspended distributions and redemptions and is currently in breach
of a $184 million loan facility with HBOS. Further, a report prepared by investment
firm Lonsec noted that investors should expect to recover 95 cents in the dollar.
(BLD added, haha).
However, that’s assuming MFS stands by a $50 million support facility.
Given MFS’s current situation, PIF unitholders won’t be holding their collective breath. ]

http://www.crikey.com.au/2008/04/01...nection-to-troubled-mfs/?wpmp_switcher=mobile

Regards,