Gramercy to raise $100M with exchangeable note offering


The 5-year paper is being offered by fully-owned subsidiary GPT Property Trust LP, and purchasers will have the option to buy up to an additional $15M as necessary.

Comments (2)
  • samdhale
    , contributor
    Comments (9) | Send Message
     
    Reducing shorter term debt with higher interest and replacing it with cheaper debt for a longer period and providing funds for further investment and needs seems to me a smart decision on the part of management.

     

    Apparently stock action today shows that quite a few investors agree.

     

    18 Mar 2014, 12:09 PM Reply Like
  • ChrisForte
    , contributor
    Comments (211) | Send Message
     
    I agree with your logic, but I'm baffled by the price action of GPT as it has wandered downward to 5.19. Perhaps I just don't understand this investment as well as I should. Any insights appreciated.
    19 Mar 2014, 07:42 AM Reply Like
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