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Ship Finance International Limited Message Board

  • edwardkeefej edwardkeefej Jul 22, 2013 7:52 AM Flag

    re SFL-can,t believe

    john hasn,t done an mlp ipo to finance his boat buys through new offerings.seems to be an old trend that has gotten very popular of late and i believe puts all mlp,s in jeoperdy of a tax change.in the meantime,it would help stabilize SFL,s projected lower guidence.guess i would invite comments on this.ed

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    • ed,

      On possible tax changes for mlps. Any number of tax changes might come about so why worry? The only possible change my tax accountant recommended I act on was to refi my lake place at a shorter term (8 years, at 2.125% no less). She thinks there is a significant chance the interest deduction for second homes may change.

      I'm not sure about your comment on JF using mlp ipos to finance newbuilds. I think GMLP has done that plus at least one secondary with more likely. SDLP also. I would not be surprised to see SDLP do a secondary soon since it closed over $30 for the first time today. Not sure how the mlp thing relates to SFL. Did you mean that SFL should create an MLP subsidiary? Would that make sense since SFL is, itself, a financing vehicle that sells sha

    • Ed, I only hold a 1% position in SFL because I fear the stock reaction to a lower payout. But if that happened, I'd use the opportunity to buy more. Agree with you on the mlp tax structure. The tax break was supposed to encourage energy development. If mlp business models get too far from this goal, there would be no reason for congress to continue the tax break.

 
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