November 27, 2024 13:15 GMT
REAL ESTATE: AroundTown (ARNDTN: JrSub: BBB- neg): Refi Trade
REAL ESTATE
- ARNDTN 1.625 Call26 are up +3.75pts
- The market - post HEIBOS - is clearly open for longer dated Hybrids from weaker real estate names
- ARNDTN 1.625 Perp yields c.11% to Reset July 26
- As things stand, a Tender/Exchange would be very achievable.
- ARNDTN 7.125 Call30 are c.8.30% to Apr30 Reset. +2pts on day.
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