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Manulife US REIT Has Proposed a Recapitalisation Plan: Should Unitholders Vote Yes or No?

Manulife US REIT (SGX: BTOU), or MUST, is caught in a bind. Back in July, the US office REIT reported that the valuation of its property portfolio had declined by 14.6% to US$1.63 billion. As a result of this fall, aggregate leverage shot up to around 57% while a financial covenant with its lenders was […]

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