Perpetual announced a proposed swap of its senior notes for a portion of its Tourmaline (TOU) shares, which we view in a positive light as the swap will eliminate, at a discount, a material portion of the Company’s outstanding debt.
14 Apr 2016
Announces Proposal to Swap Senior Notes for Tourmaline Shares, New Margin Loan Arrangement, and Credit Facility Reduction
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Announces Proposal to Swap Senior Notes for Tourmaline Shares, New Margin Loan Arrangement, and Credit Facility Reduction
Perpetual announced a proposed swap of its senior notes for a portion of its Tourmaline (TOU) shares, which we view in a positive light as the swap will eliminate, at a discount, a material portion of the Company’s outstanding debt.