Mills isn't commenting on the disclosure, a requirement given the REIT's pending
preferred equity issuance.
Not exact matches
The Company uses the proceeds raised from the
issuance of units to invest in SMEs through local market sub-advisors in a diversified portfolio of financial assets, including direct loans, convertible debt instruments, trade finance, structured credit and
preferred and common
equity investments.
I would imagine that by using the Tier 1 capital ratio in the valuation, the
issuance of
preferred stock and payment of
preferred dividends would affect the reinvestment in regulatory capital and hence the free cash flow to
equity.
Of all a company's total debt and
equity issuance, unsubordinated debt is prioritized first, followed by subordinated debt, before
preferred and common
equity are considered.
The agencies will need more capital for lending, so I would expect more
preferred stock issues, and perhaps an
equity issuance, if to a key investor, like the US Government.
So, that's my
preferred measure for how much has the underlying value of the firm increased: growth in fully diluted tangible book value (ex-AOCI), adding back dividends, and subtract out net
equity issuance / buyback measured not at cost, but at the current market price.
He advises a broad range of financial and corporate clients on the structuring, negotiation and execution of various
equity - linked transactions, including public and private convertible debt and
preferred stock
issuances and associated derivative transactions, accelerated share repurchase programs, registered forward sale transactions, margin loan transactions in respect of large stakes in publicly traded companies, and
equity - linked hedging and monetization transactions.
• any other
issuances by us of common
equity,
preferred equity or other forms of
equity, including but not limited to limited partnership interests in an operating partnership (excluding
equity - based compensation, but including
issuances related to an acquisition, investment, joint venture or partnership); and