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Manulife US REIT (MUST)
Broker's Calls
Manulife US REIT units fall over 40% on debt restructuring plans, DBS downgrades to 'hold'
“The journey to resolving MUST’s debt issue is lengthy with execution risks.”
7 days ago
REIT Watch
Manulife US REIT’s lifeline in the hands of EGM
Manulife US REIT's survival is in the hands of unitholders who will vote on 3 resolutions on Dec 14
7 days ago
REITs
Manulife US REIT restructures existing facilities through recapitalisation plan to reduce aggregate leverage
The plan includes halting half-yearly distributions to unitholders till Dec 31, 2025.
9 days ago
Broker's Calls
'Work in progress' or 'worth a shot'? DBS upgrades Manulife US REIT to 'buy' on impending debt restructuring plan
“We sense that the tripartite discussions to resolve the debt covenant breach is likely approaching a resolution.”
November 07, 2023
REITs
Manulife US REIT could keep Phipps, divest non-core assets in refinancing package
Manulife US REIT may keep trophy asset Phipps in refinancing package, selling non-core assets instead .
November 03, 2023
Results
Manulife US REIT's aggregate leverage falls slightly in 3QFY2023 to 56.0% from 56.7%
MUST’s interest coverage fell to 2.4 times as at Sept 30, down from 2.6 times at June 30 and 2.9 times at March 31.
November 03, 2023
New appointments
MUST appoints Marc Feliciano as chairman of the board of directors
Feliciano’s appointment is effective from Oct 26.
October 26, 2023
REITs
Manulife US REIT halts distributions as manager mulls options
Manulife US REIT's loans have been reclassified as current liabilities.
August 17, 2023
REITs
‘Absolutely’ possible to save Manulife US REIT, says sponsor but time not on its side
Sale of Phipps in conjunction with plan to deal with debt maturities in 2024, 2025 could give MUST reprieve
August 17, 2023
Broker's Calls
CGS-CIMB stays 'add' on Manulife US REIT but cuts TP by nearly 40% after DPU halt
The REIT’s manager announced at its results briefing on Aug 14 that it is halting distributions for 1HFY2023 ended June.
August 16, 2023