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...Keen on Mogo Finance / Important new upswing in place maybe

I sold half my Mogo Debs at $99, as the stock made a wild surge on a News release

MOGO... YTD: 6mo : 10d: / Last: 1.29 / Mogo.DB: 83.0-90.0

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NEWS

Date ET Symbol Price Type Headline
2020-07-16 07:15 C:MOGO 1.79 In the News Globe says Canccord's Taylor keen on Mogo Finance
2020-07-15 15:28 C:MOGO 1.24 News Release Mogo to release Q2 2020 results Aug. 11

The Globe and Mail reports in its Friday, July 17, edition that Canaccord Genuity analyst Doug Taylor raised his share target on Mogo Finance Technology to $4 from $3, citing better-than-expected second quarter results. The Globe's Darcy Keith writes in the Eye On Equities column that Mr. Taylor wrote about the jump in Mogo shares in the wake of the release of the company's preliminary second quarter financial results Thursday: "Beyond the strong financial performance in the quarter, we believe that the positive commentary around the performance of the loan book is driving this relief rally in the shares. We believe that, as credit concerns around the loan portfolio lift, investors will be able to focus on the growth opportunities ahead, including the roll-out of the MogoSpend product to its one-million-plus member base." Mr. Taylor continues to rate the shares "speculative buy." He believes "there is substantially more upside as the company builds out a track record of sustained cash flow profitability."

MOGO ANNOUNCES PRELIMINARY SECOND QUARTER 2020 FINANCIAL RESULTS

Mogo Inc. has provided a preliminary update on its financial results for the second quarter ended June 30, 2020.

Q2 2020 financial highlights

Mogo is expecting to report:

  • Revenue of $10.3 million to $10.5 million;
  • Adjusted EBITDA of $4.5 million to $5.0 million;
  • Positive operating cash flow net of investing activities of $6.5 million to $7.0 million.

Management Commentary

"Given the continued uncertainty caused by COVID-19, we believe it is important to provide a preview of our Q2 results, which demonstrate the resiliency of our financial model, the impact of our actions to create a leaner, more efficient cost structure and the levers in our business we can manage to significantly increase operating cash flow," said Greg Feller, President and CFO. "These steps helped drive a material and better-than-expected sequential improvement in net cash generated from operating and investing activities, as well as our highest-ever Adjusted EBITDA. Our loan portfolio continues to demonstrate resiliency in these challenging economic times. The record-low default rates we experienced in April and May, continued in June, giving us now several months of encouraging data on this diverse portfolio."

About Mogo

Mogo -- a financial technology company -- offers a finance app that empowers consumers with simple solutions to help them get in control of their financial wellness. Financial wellness continues to be the No. 1 source of stress across all demographics and highest among millennials. At Mogo, users can sign up for a free account in only three minutes and begin to learn the 4 habits of financial health and get convenient access to products that can help them achieve their financial goals. The Mogo platform has been purpose-built to deliver a best-in-class digital experience, with best-in-class products all through one account. With more than one million members and a marketing partnership with Canada's largest news media company, Mogo continues to execute on its vision of becoming the go-to financial app for the next generation of Canadians.

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FIRE.db / last: 27.95

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Supreme Cannabis amends convertible debenture terms

2020-08-04 10:31 ET - News Release

Ms. Beena Goldenberg reports

SUPREME CANNABIS ANNOUNCES AGREEMENT TO PARTIALLY CONVERT AND AMEND DEBENTURES

The requisite majority holders of The Supreme Cannabis Company Inc.'s outstanding 6 per cent senior unsecured convertible debentures issued in October, 2018, have agreed to amend the terms of the debentures.

"We are pleased to have reached an agreement that significantly reduces the company's debt obligations and amends the debentures in advance of their original maturity in October, 2021," said Beena Goldenberg, president and chief executive officer of Supreme Cannabis. "This transaction offers holders of the debentures with an improved conversion rate that is aligned with current market conditions and affords our company additional flexibility and runway to accelerate revenue growth and achieve cost optimization as we continue on our path to near-term profitability."

The company has reduced the principal amount of the debentures by $63.5-million in exchange for the issuance of 116.6 million common shares, thereby converting debt to equity at a premium to the current share price. Holders of the debentures resident in eligible jurisdictions will receive one-half of the common shares as free-trading shares, and the other one-half of the common shares will be subject to a four-month restricted period. Holders of the debentures resident in other jurisdictions will be entitled to receive shares that are subject to restricted periods, subject to applicable securities laws.

The total principal amount of convertible debentures outstanding will be reduced from $100-million to $36.5-million, and the maturity date will be extended from Oct. 19, 2021, to Sept. 1, 2025, unless repurchased, redeemed or converted prior to maturity. The remaining debentures will accrete at a rate of 11.06 per cent per year, compounding on a semi-annual basis, commencing on Sept. 1, 2020, and ending on Sept. 1, 2023. The accreted portion of the principal is payable in cash, but does not bear cash interest and is not convertible into the company's common shares. The accreted portion of the principal will be evidenced by a separate series of debentures, which will not be listed on the Toronto Stock Exchange.

The conversion price of the remaining convertible debentures outstanding will be reduced from $2.45 per share to 28.5 cents per share, and annual interest payments will be reduced to $2.9-million from $6-million. The company will have the right to force the conversion of the remaining principal amount of the convertible debentures outstanding at the conversion price on no less than 30 days of notice if the daily volume-weighted average trading price of the company's common shares is greater than 45 cents for any 10 consecutive trading days. The principal amount of the remaining debentures will amortize at 1 per cent per month over the 24 months prior to maturity.

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ChemTrade Logistics.    : O/S Prin.: Conver.: Price  :  Last Price : Yield : YTM

> / CHE.un: 92.6M units. : $ 450M  : - N/A - :  $4.86  : $4.85 - 4.86 : 12.3%: BV $7.66
B / 5.25% : 30 Jun., 2021: $ 14.5M*: $28.00: 100.35 : 100.2-100.5 : 5.23%:
C / 5.00% : 31 Aug., 2023: $143.8M: $24.85: $82.25: 82.00-82.50 : 6.08%:
D / 4.75% : 31 May, 2024: $201.1M: $26.70: $75.00: 73.00-77.00 : 6.33%:
E / 6.50% : 31 Oct., 2026: $100.0M: $15.80: $73.00: 72.00-73.90 : 8.90%:
F / 8.50%  : 30 Sep. 2025: $ 86.3M: $   7.35: $93.40: 93.00-93.79 : 9.10%:
======== : ====== Total: $545.5M:
> Update : https://www.stockwatch.com/Quote/Detail?C:CHE.UT

*redeemed $100M, 9-29, and $12.5M on Oct 5th, leaving just $14.5M

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IVQ / Invesque Inc. ... update:  Last: C$1.65

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===

T:IVQ.DB.V - INVESQUE INC 6.00 PCT DEBS USD > can be redeemed w/shares values at 95%

   IVQ.DB.V - T   40.0 81.00 · 82.75 39.0 81.00

T:IVQ.DB.U - INVESQUE INC 5.00 PCT DEBS USD  (raised to 7%??)

   IVQ.DB.U - T     3.0 67.01 · 74.00 11.0 75.00

===

On November 15, 2021, a meeting of holders of the 2016 Convertible Debentures was held whereby the holders of
2016 Convertible Debentures ("2016 Debentureholders") approved proposed amendments to the 2016 Convertible
Debentures. The approved amendments include the following changes to the 2016 Convertible Debentures:

1. Increase the interest rate from 5.00% to 7.00%, effective January 31, 2022.
2. Decrease the conversion price from $11.00 to $5.00 per share.
3. Extension of the maturity date from January 31, 2022 to January 31, 2025.
4. Approval of the redemption of $20,000 of the principal amount of the 2016 Co..

2018 Convertible Debentures
On August 24, 2018, the Company issued $50,000 aggregate principal amount of convertible unsecured subordinated debentures (the "2018 Convertible Debentures"). The 2018 Convertible Debentures are due on September 30, 2023
and bear interest at an annual rate of 6.00% payable semi-annually in arrears on March 31 and September 30 of each year commencing on March 31, 2019.

The 2018 Convertible Debentures are convertible into common shares of the Company at the option of the holder at a
conversion price of $10.70 per common share. The debentures will not be redeemable prior to September 30, 2021.
(delete?: On or after September 30, 2021, and prior to September 30, 2022, ...

Upon redemption or maturity, the Company may satisfy its obligations with respect to the convertible debentures in cash or the issuance of common shares based on 95% of the Current Market Price...

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Invesque Inc
Symbol IVQ
Shares Issued 55,164,658. / Mkt Cap: C$ 87.15M.   at
Close 2022-07-28 C$ 1.58.       / Range:

IVQ.DB.V - T  

11.0 88.75 · 94.00 53.0 89.00 +3.00 3.5 149.0 133

T:IVQ.DB.V - INVESQUE INC. 6% DEB USF ... update -  (Note: 20K Face)

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IVQ.t / Invesque Inc ... 3yr: C$ 1.58

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Invesque sells $113-million (U.S.) of non-core assets

2022-07-28 19:13 ET - News Release

Mr. Scott White reports

INVESQUE CONTINUES EXECUTING ON STRATEGY OF SIMPLIFYING THE PORTFOLIO BY SELLING NON-CORE ASSETS VIA SALE OF ITS CALAMAR PORTFOLIO AND THE MAJORITY OF ITS MEDICAL OFFICE PORTFOLIO

Invesque Inc. has sold $113-million (U.S.) of non-core assets. Inclusive of previously announced dispositions, the company has sold $292-million (U.S.) of assets over the last 12 months.

On June 15, 2022, Invesque closed on the sale of its interests in two 55-plus communities in Wheatfield, N.Y.

  • The communities were acquired in 2018 as part of the acquisition of Care Investment Trust and were managed by Calamar under a joint venture structure.
  • The implied pricing from the sale transaction was very favourable with an implied price per unit of $145,000 (U.S.) and an implied cap rate of 5.7 per cent on trailing NOI (net operating income).
  • The two Calamar communities operate as age-restricted apartment complexes and feature substantially less resident and health care services than traditional seniors housing owned by Invesque.
  • The company received net cash proceeds of $10.0-million (U.S.) at closing and plans to utilize proceeds to continue delevering and simplifying its balance sheet.

On July 26, 2022, the company closed on the sale of the University Boulevard medical office building in Orlando, Fla., for $9.85-million (U.S.).

  • This stand-alone transaction was consummated with the operator of the surgery centre that is the largest tenant at the property.
  • The sale price reflected the high quality of the underlying real estate equal to nearly $300 (U.S.) per rentable square foot and a cap rate of 7.2 per cent on trailing NOI.

On July 28, 2022, the company closed on the sale of nine medical office buildings in Canada for $94.3-million.

. . . Following the completion of these transactions, the company's PORTFOLIO consists of 83 properties with approximately 5,700 units, 7,800 beds and 190,000 square feet of medical office buildings across 18 states and one Canadian province.

BMO Capital Markets acted as financial adviser to Invesque in connection with the sale of the Canadian medical office properties.

About Invesque Inc.

Invesque is a North American health care real estate company with an investment thesis focused on the premise that an aging demographic in North America will continue to utilize health care services in growing proportion to the overall economy. Invesque currently capitalizes on this opportunity by investing in a portfolio of income generating properties across the health care spectrum. Invesque's portfolio includes investments in independent living, assisted living, memory care, skilled nursing, transitional care and medical office properties, which are operated under long-term leases and joint venture arrangements with industry leading operating partners. Invesque's portfolio also includes investments in owner-occupied seniors housing properties, in which Invesque owns the real estate and provides management services through its subsidiary management company, Commonwealth Senior Living.

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Invesque may buy back up to 2.8 M shares under NCIB

2022-12-20 10:51 ET - News Release

An anonymous director reports

INVESQUE INC. ANNOUNCES RENEWAL OF NORMAL COURSE ISSUER BIDS

The Toronto Stock Exchange has approved Invesque Inc.'s notices of intention to renew its normal course issuer bid for a portion of its common shares and a portion of its 6.00 per cent convertible unsecured subordinated debentures due Sept. 30, 2023, as appropriate opportunities arise from time to time. Invesque's normal course issuer bids (NCIB) will be made in accordance with the requirements of the Toronto Stock Exchange.

Pursuant to the notices, Invesque is authorized to acquire up to a maximum of 2,806,947 of its shares, or approximately 5 per cent of Invesque's 56,138,948 outstanding shares as of Dec. 9, 2022, and up to a maximum of $4,867,200 (U.S.) aggregate principal amount of debentures, or approximately 10 per cent of the public float of $48,672,000 (U.S.)

> More: https://www.stockwatch.com/News/Item/Z-C!IVQ-3345974/C/IVQ

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Cv.DEBT: $48,343M FACE  6.0%rate  0.7Yrs to Maturity

"in cash or the issuance of common shares based on 95% of the Current Market Price"

Shares Issued 55,164,658 z$1.17= / Mkt Cap: C$ 64.5M.

  Nov.'2023: 55.16M x C$0.30= C$16.5M ( - 75%)

( 100 /.95 =xx) /$83 = $105 /$83= +26.8%. if paid in shs. +6%

Invesque loses $48.81-million (U.S.) in 2022

IVQ ... 4-Yr: Last: $1.17 ...

Book Value Per Share (mrq)  $2.61

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2018 Convertible Debentures
On August 24, 2018, the Company issued an aggregate principal amount of $50Million of convertible unsecured subordinated debentures ("2018 Convertible Debentures"). The 2018 Convertible Debentures are due on September 30, 2023 and bear interest at an annual rate of 6.00% payable semi-annually in arrears on March 31 and September 30 of each year commencing on March 31, 2019.

Upon redemption or maturity, the Company may satisfy its obligations with respect to the convertible debentures in cash or the issuance of common shares based on 95% of the Current Market Price on the Redemption Date or Maturity Date...

( 100 /.95 =xx) /$83 = $105 /$83= +26.8%. if paid in shs. +6%

> pg.21 : https://www.invesque.com/wp-content/uploads/2023/03/03.15.23-2022-Q4-MDA-FINAL.pdf

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IVQ: last: C$1.01 -0.07

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Invesque's 6% debenture holders pass amendments

2023-05-23 18:11 ET - News Release

Mr. Scott White reports

INVESQUE INC. ANNOUNCES APPROVAL OF AMENDMENTS TO THE TERMS OF ITS 6.00 PER CENT 2018 CONVERTIBLE DEBENTURES DUE SEPTEMBER 30, 2023

Holders of Invesque Inc.'s 6.00-per-cent 2018 convertible debentures due Sept. 30, 2023, passed an extraordinary resolution approving certain amendments to the debentures at a meeting of debentureholders held today. The amendments to the debentures will result in:

  • Increasing the underlying interest rate from 6.00 per cent to 8.75 per cent, effective Sept. 30, 2023;
  • Decreasing the conversion price from $10.70 (U.S.) to $2.75 (U.S.) per share of Invesque;
  • Extending the maturity date from Sept. 30, 2023, to Sept. 30, 2026;
  • Redeeming, on a pro rata basis, $22-million* (U.S.) (representing approximately 46 per cent) of the principal amount of the debentures outstanding, plus accrued and unpaid interest thereon to, but excluding, the date of the redemption, which will occur on Sept. 30, 2023.

The amendments were overwhelmingly approved by approximately 99.9 per cent of the principal amount of the debentures voted (either in person at the meeting or by proxy).

*LATER: 

  • As previously announced, on September 26, the Company received debentureholder approval to pass an extraordinary resolution amending certain terms of its 8.75% Convertible Unsecured Subordinated Debentures due September 30, 2026 (the "Debentures"). On October 5, the Company redeemed US$4.8 million of the Debentures pursuant to the amendment.
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  • 5 months later...

REDEMPTION AMOUNT CUT!  From 46% (x$20M= $9.2M?) to just $4.8M (24%?)

After paying out the Payout, the DEBS dropped from the $80-84 Level, by more than 50%

$80  x1000 x100% =$80.0k,
$100 x1000 x 46% =$46.0k, +$37 x1000 x54%= $19.98k= $66.0k (-17.5%)
$100 x1000 x 24% =$24.0k, +$37 x1000 x76%= $28.12k= $52.1k (-34.9%)

1,000’s of US    Dec.31’22 : Sep.20’23:
Total Assets   :  $1,097.3M:   $ 890.4M:
No. properties:          77     :         65      : 
Value / Prop.   :  $ 14.25M :   $ 13.70M :
- Total Debt   :   $765.5M :   $ 616.7M :
= Equity, etc  :    $331.8M :   $273.7M : -17.7%
Other liabs.    :        14.8M  :        5.0M  :
Pfd equity       :       85.4M  :      85.4M :
Com. equity    :      231.6M :     183.3M :
Shares OS      :     55.M E   :    55.16 M :
BV per sh.       :      $4.21    :     $ 3.32  :  -21.1%
=======

Issuer:  Invesque Inc., common shares, U.S.-dollar symbol:  IVQ.U: Last: $0.205 
Invesque  5 per cent debs,  U.S.-dollar symbol:  IVQ.DB.U : $40.00

Invesque  6 per cent debentures,  U.S.-dollar symbol: IVQ.DB.V > F.M. Sept. 30, 2026; $37.00

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 6.00-per-cent 2018 convertible debentures due Sept. 30, 2023, passed an extraordinary resolution approving certain amendments to the debentures at a meeting of debentureholders held today. The amendments to the debentures will result in:

  • Increasing the underlying interest rate from 6.00 per cent to 8.75 per cent, effective Sept. 30, 2023;
  • Decreasing the conversion price from $10.70 (U.S.) to $2.75 (U.S.) per share of Invesque;
  • Extending the maturity date from Sept. 30, 2023, to Sept. 30, 2026;

==

  • As previously announced, on September 26, the Company received debentureholder approval to pass an extraordinary resolution amending certain terms of its 8.75% Convertible Unsecured Subordinated Debentures due September 30, 2026 (the "Debentures"). On October 5, the Company redeemed US$4.8 million of the Debentures pursuant to the amendment....      On September 26, 2023, a meeting of holders of the 2018 Convertible Debentures was held whereby the 2018 Debentureholders approved proposed amendments to the 2018 Convertible Debentures. The approved amendments include the following changes to the 2018 Convertible Debentures: 1. Decrease the amount to be redeemed in 2023 to $4.828M. 2. Decrease the conversion price from $2.75 to $1.10 per share. 3. Add a covenant that the Corporation shall not make any cash repayment or redemption of principal on the Corporation’s outstanding 2016 Convertible Debentures whether before, on or after the maturity date of the 2016 Convertible Debentures unless, prior to or contemporaneously with the repayment or redemption of 2016 Convertible Debentures, it redeems or repays for cash an equal principal amount of the amended debentures of the maturity date from September 30, 2023 to September 30, 2026.
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