REU 0.00% 0.5¢ rubicon europe trust group

Nothing odd about the announcement. They invested the money on a...

  1. 103 Posts.
    Nothing odd about the announcement. They invested the money on a CDO vehicle that funded the NHP purchase. They effectively provided a low tranche of mezzanine debt which is the first to go if the borrower defaults. The borrower will default as the instrument matures in January requiring a GBP1.5 billion refinance. Impossible given the nursing homes are now worth significantly less. Equity holder is Qatar government and they have already stated they won't tip in more cash.
 
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Currently unlisted public company.

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