Jun. 20 at 10:19 AM
$BDN doubles down on high-cost debt with
$150M 8.875% notes offering. Proceeds used to refinance existing obligations - classic debt shuffle. At 43x Debt/EBITDA and negative EPS, that 13.67% dividend yield looks increasingly like a yield trap. Office REITs remain in the penalty box.
https://www.sec.gov/Archives/edgar/data/790816/000119312525143138/d29025d8k.htm