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Sun Communities Inc. Message Board

  • dar200 dar200 Mar 12, 2013 4:27 PM Flag

    New revolver in the works

    This new offering requires SUI to update its shelf registration. The 424B5 was filed yesterday in fill in the blanks form...to be completed once the numbers are known. Nevertheless, the recent events disclosures make interesting reading. For instance they have a letter of intent for a much bigger secured revolver than the current one at a lower spread range over eurodollar than the current revolver. It indicates more acquisitions are contemplated.

    It's also interesting to see one hand washing the other, underwriters vs lenders....you make the loan.....you get the underwriter fees. Just a smart way to do business.

 
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