from Theflyonthewall.comCoverage Ratios Do Not Look PrettyAs many of the larger private equity deals get shopped around to both equity and debt investors, the returns are simply not looking promising.Archstone-Smith (ASN), a real-estate investment trust, is scheduled to close its deal on October 5th. The deal is trading as though it is going to close despite having some pathetic coverage ratios. Bankers are marketing its debt and equity after reporting Q2 annualized cash flow of $700 million. Annual interest expense is expected to be $1.04 billion. It does[...]
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[Source: The Money Blogs]
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