Post by mememe on Dec 23, 2022 12:16:54 GMT
Another debenture M** S**** being repaid early due to change of ownership. 'Independent valuer' assigning values well below those in the secondary market and not even sufficient to meet initial IRR. I do wonder if companies are deliberately triggering these change of ownership clauses to reduce the interest payments and refinance with cheaper debt (where they now have track record to show the project is successful). It's not clear what qualifications these independent valuers have!