Brief: Manulife Us REIT Says 1H 2023 Distributions Halted

Manulife US Real Estate Investment Trust

14/08/2023 07:30

Aug 14 (Reuters) - Manulife US Real Estate Investment
Trust  MANU.SI :
    * 1H 2023 DISTRIBUTIONS HALTED
    * HY NET PROPERTY INCOME DIPPED 3.9% YOY TO US$55.4 MILLION
    * 1H DISTRIBUTIONS HALTED DUE TO BREACH OF A FINANCIAL
COVENANT IN
SOME OF MUST'S FINANCING DOCUMENTS, AMONG OTHERS
    * HY DISTRIBUTABLE INCOME DECREASED 17.4% YOY TO US$37.9
MILLION
    * CURRENTLY IN NEGOTIATIONS WITH LENDERS TO ADDRESS BREACH
OF
FINANCIAL COVENANT AND BOLSTER LIQUIDITY

Source text for Eikon:  ID:nSN8M7MX7 
Further company coverage:  MANU.SI 

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