Invista Euro. Share Discussion Threads

[ukmassy] 10/9/2015 11:52

Great sense of humour Alexious. Did you not read the RNS a few weeks ago?

[alexios1201] 10/9/2015 11:46

IEREThe shares you are buying at 0.3p have a nominal valuation of 0.1eur or 7.27pMain Market ListingThis is a very nice playBring my 5p

[ukmassy] 10/9/2015 11:25

Stuck at 0.300p

[smithyuk999] 10/9/2015 11:06

asmodues, 20p and 40p a share has been mentioned on the LSE board. 1p or 3p is nothing LOL!

[bernieboy] 10/9/2015 11:04

There should be an rns today or tomorrow though as the latest extension of the standstill letter runs out today......

[bernieboy] 10/9/2015 11:03

Well so far I am glad I sold at a small loss. As since my 0.33 sale most have been getting around 0.2.

[asmodeus] 10/9/2015 10:47

But rampers and optimists very quiet. Is it no longer to be 1p or 3p etc., today?

[hjfe] 09/9/2015 09:20

Tumbleweed here today.......

[colin12345678] 08/9/2015 14:24

BREDS carves up IERET whole loan and sells down €100m senior tranche to BAML
Posted on August 6, 2014 3:11 pm by James Wallace

Blackstone Real Estate Debt Strategies (BREDS) has carved up the €222m whole loan which refinanced Invista European Real Estate Trust (IERET) just over three months ago and sold a €100m senior loan to Bank of America Merrill Lynch (BAML).

BAMLBREDS is retaining the balance, of €122m, as a mezzanine loan.

For IERET, the open-ended listed core European commercial property trust managed by INTERNOS, this completes a 12-month period of musical chairs of its creditors.

Last September, Lloyds Banking Group parcelled IERET’s €249.6m senior loan into Project Charlie, a subset of Project Hampton, which was sold to Cerberus Capital Management in November.

In advance of which, IERET negotiated with Bank of Scotland, the wholly-owned Lloyds Banking Group subsidiary which owned the legacy senior debt, a four-month loan extension to 30 April this year to consent to Lloyds transferring ownership of the facility.

Just over six months after Cerberus’ acquisition of Project Charlie, on the final day of the four-month extension, BREDS refinanced Cerberus’ outstanding senior debt with a fresh €222m whole loan.

Completing the creditor musical chairs, the Board of IERET today announced that BREDS has divided the whole loan into a €100m senior, sold to BAML, and a €122m mezzanine facility, retained by BREDS.

The two facilities run for three years, to end of April 2017, with two 12-month extension options, subject to adherence to business plan objectives.

The blended whole loan margin is 770 basis points over three-month Euribor.

IERET is comprised of 30 diversified commercial properties predominantly throughout France and Germany as well as Spain, Netherlands and Belgium, valued at €299.7m by Savills as at 31 March.

Subsequent to which, IERET sold a vacant logistics asset, Modletice, in the Czech Republic for €6.5m, reflecting a 3.9% discount to valuation, and reducing further the outstanding debt by €6.2m.

Based on the carrying valuation of Modletice, IERET’s portfolio would proportionally now reflect a €292.95m valuation.

Against which, BAML’s senior loan reflects a 34.1% LTV while BREDS mezzanine loan takes the portfolio to 75.8% LTV, according to CoStar News calculations.

Pricing of the senior and junior loans is thought to be between 200 bps and 250 bps and 12%-12.5% IRR, respectively, according to estimations provided to CoStar News.

However, IERET has agreed a 300 bps reduction in the blended whole loan margin to 470 bps once the BREDS €122m mezzanine loan is reduced to €35m, subject to the overall LTV being below 70%. At this stage, the margins would recalibrate accordingly.

As such, the proceeds of the agreed 13 targeted asset disposals will be applied to the repayment of the mezzanine facility, with the blended cost of debt to the company remaining at 770 bps over three-month Euribor until the step down event has been reached.

[letmepass] 08/9/2015 14:24

Don't think he has yet but RNS inn the morning will tell more

[ukmassy] 08/9/2015 12:56

Will be are the operative 2 words. I doubt the seller has cleared.

[letmepass] 08/9/2015 12:44

Lots of buys , means seller will be cleared... Then 1p+...it will happen quickly , that's what I think...

[ukmassy] 08/9/2015 12:28

Why do you say that Let Me?

[letmepass] 08/9/2015 12:28

Looks like a move is about to happen

[ukmassy] 08/9/2015 11:52

And they deleted all their tweets! Well done Colin.

[ukmassy] 08/9/2015 11:51

Notice it coincides with Colin going out to lunch? LOL!

[veldtspar] 08/9/2015 11:49

Er... why do you think it's nonsense massey?

[colin12345678] 08/9/2015 11:39

City Investors Unit ‏@city_unit 1m1 minute ago

#IERE 12pm RNS boom time
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City Investors Unit ‏@city_unit 32m32 minutes ago

#IERE step down triggered - NAV just went to £39m - sensational
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City Investors Unit ‏@city_unit 48m48 minutes ago

#IERE RNS logged get ready
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City Investors Unit ‏@city_unit 2h2 hours ago

#IERE are we ready? +25% another 1475% to go
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City Investors Unit ‏@city_unit 2h2 hours ago

#IERE refinance deal takes this from £0 NAV to £39m NAV - who wouldn't want to be in this
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City Investors Unit ‏@city_unit 2h2 hours ago

#IERE about to blow
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City Investors Unit ‏@city_unit 3h3 hours ago

#IERE those with DMA can see the buying in Bloomberg again this morning..,cleaning up!
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City Investors Unit ‏@city_unit 3h3 hours ago

#IERE we await the RNS - not long now - 1500% today if released before 1pm

[bernieboy] 08/9/2015 11:38

I bought 150k on Friday at 0.34 and sold them earlier at 0.33. Too much of a gamble for me. Think there could be some cash to be made before the 10th but don't get caught holding the hot potato! Good luck to you still in - hope it comes good for you!

[colin12345678] 08/9/2015 11:33

fenseal999 i get now you are waiting to get in lol


fenseal3 - 08 Sep 2015 - 09:28:33 - 4308 of 4309
I thought i would have missed the boat, no funds till end of September, thought the purchase by PVW and Zak Mir's tip for SML to go to 0.8p would have moved the share price but nothing yet which is good for me, did notice some big buys on ISDX yesterday and some on AIM today, still no rise yet, can peeps hold off buying untill October, thanks 8-)

[colin12345678] 08/9/2015 11:26

thanks veldtspar i am in London !!

[ukmassy] 08/9/2015 11:26

Nonsense Veldspar.