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Boykin Lodging Company (BOY) Message Board

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  • fewdolmo fewdolmo Sep 27, 1999 7:05 PM Flag

    Where did everybody go?

    Thanks for the analysis. Here is some further
    info. that I have accumulated.

    Debt as of 6/30
    under the $250 million credit facility was around $163
    million, but there are covenants in the facility that
    limit what BOY may draw down. They will not disclose
    the limitations, but the full $87 million is not
    available.

    The dividend coverage is tight. They are expected to
    earn FFO of about $48 million in 1999. They are paying
    a dividend of about $34 million and they have capex
    planned for 1999 of about $25 million. They plan to spend
    about $13-14 of FFO on capex and borrow the
    balance.

    I have beeen trying to find a reliable estimate of
    NAV for BOY. Do you have any idea??

    Thanks