Medical Properties Trust has hired Goldman Sachs to soft market a $1-2 billion new issue secured bond at 10% interest, according to multiple sources familiar with the deal. Questions remain on what the use of proceeds would be restricted to and it's unclear on who would be allowed to participate in the offering. MPT currently has $1.2-1.3 billion of structurally senior bank debt and the next unsecured 3.325% 500 million sterling bond maturity is March. Bondholders who spoke with this … Continue
9 Jan
MPT – Management’s gamble with time to refi could be costly – ($MPW)
Medical Properties Trust is currently negotiating with a bank lender group to draw down more cash to pay off at least one of its upcoming credit instruments and its bankers are making moves now to sweep up billions in MPT's remaining unrestricted collateral, sources say. According to a person familiar with the negotiations the bankers want $3.85 billion of secured assets for a draw down of around $750 million. The offer is just a proposal and it's still unclear if MPT will accept … Continue
18 Dec
Something’s Rotten in the state of Sweden’s SBB
by Teri Buhl Sweden’s largest publicly traded real estate company’s stock traded up today (22%) with a view that it has beaten a group of sophisticated dissenting hedge fund creditors at their own game—at least in the short term. Samhällsbyggnadsbolaget i Norden AB (known as SBB) orchestrated its own debt exchange without engaging with any […]
Continue27 Nov
SBB creditors invited to join Fir Tree bond acceleration campaign
by Teri Buhl This story has been updated. SBB creditors recently participated in a call hosted by attorneys from Cleary Gottlieb in an effort to inform and update other bondholders’ about the work they have done to hold SBB’s management accountable. These London based lawyers are currently polling other creditors interest in joining Fir Tree […]
Continue8 Jan
U.S. Government charges Andy Defrancesco with Securities Fraud
This story has been updated Canadian small cap financier Andy Defrancesco has been accused by the U.S. stock market regulator of securities fraud for his role in leading a pump and dump scheme of Cool Holdings ($AWSM). The SEC filed its complaint in the Southern District of New York on Friday, January 6 and also […]
Continue30 Dec
Convicted fraudster A.J. Discala makes Hail-Mary move to stay out of Jail for 11.5 years
This story had been updated: A.J. Discala finally reported to prison on May 2, 2022 at a minimum security facility. Oringinal Text 12-30-21 Convicted penny stock schemer A.J. Discala is making a last ditch effort to not report to prison for 11.5 years by asking the court to allow him to stay out on bail […]
Continue11 May
Barry Honig promoter Jeff Auerbach gets Three Months Jail in stock Kickback Scheme
A New York City based stock promoter and investor relations executive, Jeff Auerbach, was given a lite prison sentence for his role in bribing stock brokers to put their main street clients into microcap stocks to prop up the price of a stock. Auerbach chose to report early to Otisville, NY prison in March for […]
Continue7 May
Barry Honig settles Securities Fraud lawsuit with Eloxx Pharmaceutics investor: $ELOX
Barry Honig has agreed to settle the Eloxx securities fraud suit and drop his counterclaim against a fellow high net worth investor John Winfield. This signals Honig or the company agreed to pay up on the stock he allegedly help cheat Winfield out of. Winfield was asking for as much as $2 million for his […]
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