AJA
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0.00% $7.23 astro japan property group

The lenders are down approx $60m no matter what happens as the...

  1. bealeg
    14 Posts.
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    03/07/12
    11:21
    Post #: 10386612
    The lenders are down approx $60m no matter what happens as the loans are non-recourse to AJA and will not be repaid.

    The settlement agreement for the 10 properties, with the approx $60m discount to book value, reflects this fact.

    The lenders and AJA consider the settlement to be in both of their best interests and better than a default.

    Im am not sure where the figure of $122m comes from.
    AJA Price at posting: $2.93 Sentiment: Buy Disclosure: Held
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    lightbulb Created with Sketch.  Great analysis
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