Arvida’s relaxed banking covenants remove capital raising fears
Forsyth Barr's Aaron Ibbotson expects Arvida shares to "outperform". (Image: Forsyth Barr)
The relaxation of Arvida’s banking covenants means investors don’t need to worry about any near-term capital raising or the company breaching those covenants in the next couple of years, according to Forsyth Barr analyst Aaron Ibbotson.Concern about debt levels within the retirement sector became heightened because of industry pioneer Ryman Healthcare’s rising debt levels.Ryman solved its particular problem in February with a $902 million capital raising, though at great cost – the capital raising cost $30m and it cost t...
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