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Stock impact report

G2S2 Capital Inc. Purchases $600 Million of Secured Debt of Ravelin Properties REIT from Lenders [Yahoo! Finance]

Bank Of Montreal (BMO) 
Last bank of montreal earnings: 2/25 06:00 am Check Earnings Report
Company Research Source: Yahoo! Finance
the indebtedness and obligations of Ravelin Properties REIT ("Ravelin", "the REIT") under the syndicated loan for which Bank of Montreal acted as agent, and certain bilateral loan agreements previously held by Royal Bank of Canada . The transaction comes on the heels of the REIT's internalization of management and the addition of several highly qualified independent trustees. "Over the past several months, we have worked closely with the REIT's lenders to facilitate a restructuring of the REIT's secured debt. Ultimately, it is our view that the best path forward was for G2S2 to step in as a secured lender while the assets are stabilized, at least for the time being," said George Armoyan , Executive Chairman of G2S2. "Now we can focus on working along with the internalized management team to restore value to the REIT's assets and create value for all stakeholders." "We are happy with the progress made by Shant Poladian and his team," added Mr. Armoyan. "Although there is still much Show less Read more
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