Good stocks to invest
Shortly after Croesus Retail Trust issues a placement of 60 mil unit of its equity shares at between $0.745 to $0.77, yesterday night it was announced that they have entered an agreement of a SG$60 mil debt at 5% interest.
5% will definitely be hard to find accretive malls to purchase for the share holders, but if they swap it to a fixed interest rate of 2.65% for the next 4 years at a cost, it is possible.
With the latest placement and this debt, the new acquisition loan to value could be 57%.
A property that yields a net property income of 6% can still look accretive.
The steps taken seem more to indicate that they have something potential in the works, just that they have to “find” the money to grab it.
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– Good stocks to invest