Does anyone know the story behind the $1.3B Promissory Note in the current assets of the Brookfield Multiplex Proprty trust??
I know it was issued for shares in place of an interest bearing debt to Brookfield Multiplex or such. Is it a "real" asset? Will it actually ever be paid in cash for liquidity purposes or is it a worthless peice of paper from a related entity that will fall over if called during a crisis??
Appreciate any thoughts as it has a large impact on the stated gearing levels of course. Also anyone have any thoughts on their chances of rolling over $1.5B in debt during the next 18 months?
cheers
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