Diversified Healthcare Trust dropped 14% in premarket trading after it said there’s substantial doubt regarding its ability to continue as a going concern, as it has $700 million of debt maturing before mid-year 2024, leaving it with no path to refinance its upcoming maturing debt.
- Sees the pending merger with Office Properties Income Trust is the best path forward
- “Upon closing of the merger, the $450 million of DHC debt maturing in January 2024 will be refinanced and the combined company will be immediately in compliance with its debt incurrence covenant”
- Note:
DE Shaw Opposed to Diversified Healthcare Trust Proposed ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.