Eman93
4,750 posts
msg #89340
- Ignore Eman93 |
3/9/2010 10:37:47 PM
Sold GLW and NVDA and PEI as much as i wanted to ride the squezz,, I will buy it back tomorrow if needed.
I am not pushing my luck at this point.
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moby
314 posts
msg #89341
- Ignore moby |
3/9/2010 10:57:07 PM
Eman: you make a new squeeze filter?
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Eman93
4,750 posts
msg #89343
- Ignore Eman93 |
3/9/2010 11:42:07 PM
Look back a page and youll see the fidelity scan... the specs are in the uper right hand corner. I saw PEI had broken out so the squezz was on.....
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Eman93
4,750 posts
msg #89344
- Ignore Eman93 |
3/9/2010 11:47:48 PM
Its just a low PE and instu. money flowing in scan
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Eman93
4,750 posts
msg #89443
- Ignore Eman93 |
3/11/2010 7:04:15 PM
PHILADELPHIA--(BUSINESS WIRE)-- Pennsylvania Real Estate Investment Trust (PEI:...) today announced that it has closed on a secured credit facility with $520 million of term loans and a $150 million revolving line of credit with its bank group, led by Wells Fargo Bank.
Ronald Rubin, Chairman and Chief Executive Officer, said, “We stated previously that the next step in our capital plan was to refinance our maturing credit facility and term loan, and today we are pleased to announce the completion of that step. We appreciate the continued support and confidence of our lenders. This facility provides us with the opportunity to pursue our goals and maximize the long-term value of the Company for our shareholders.”
The new credit facility has a term of three years with a one-year extension option, subject to certain conditions. Depending on the Company’s leverage, the facility bears interest at an annual rate between 4.00% and 4.90% over LIBOR, with no interest rate floor. The initial rate was 4.90% over LIBOR.
The proceeds from the credit facility were used to pay down the previous $500 million unsecured revolving credit facility and $170 million unsecured term loan that were scheduled to mature on March 20, 2010. The Company’s obligations are secured by mortgages on 22 of the Company’s properties, and a second lien on one property.
The credit facility contains covenants customarily found in such agreements, including: a maximum ratio of Total Liabilities to Gross Asset Value of 0.75:1 based on a capitalization rate of 8.0%; a minimum ratio of EBITDA to Interest Expense of 1.60:1; a minimum ratio of Adjusted EBITDA to Fixed Charges of 1.35:1; and a minimum Corporate Debt Yield of 9.50%, subject to certain exceptions.
The credit facility contains provisions regarding the required application of proceeds from Capital Events or Refinance Events toward repayment of amounts outstanding, subject to certain conditions. A Capital Event includes, among other things, raising additional capital through an asset sale, joint venture, additional secured or unsecured debt, or issuance of equity. Capital Events do not include Refinance Events or other specified events. After payment of interest and required distributions, the remaining proceeds of Capital Events will generally be allocated to pay down the line of credit and term loans depending on the Facility Debt Yield.
A Refinance Event is any event by which the Company raises additional capital from refinancing of secured debt encumbering an existing asset, not including collateral for the credit facility. The proceeds in excess of the amount required to retire an existing secured debt will be applied, after payment of interest, to pay down the line of credit, or if the line of credit balance is zero, for general corporate purposes.
The aggregate amount of the lender Commitments under the credit facility must be reduced by $33.0 million by March 11, 2011, by another $33.0 million by March 11, 2012 and by another $34.0 million by March 11, 2013, assuming the Company exercises its right to extend the term. All capitalized terms have the meanings given such terms in the credit agreement.
About Pennsylvania Real Estate Investment Trust (PEI:...)
Pennsylvania Real Estate Investment Trust (PEI:...) , founded in 1960 and one of the first equity REITs in the U.S., has a primary investment focus on retail shopping malls and power centers. Currently, the Company's portfolio consists of 54 properties, including 38 shopping malls, 13 strip and power centers, and three properties under development. The operating retail properties have a total of approximately 34 million square feet. The Company's properties are located in 13 states in the eastern half of the United States, primarily in the Mid-Atlantic region. PREIT is headquartered in Philadelphia, Pennsylvania. The Company's website can be found at www.preit.com. PREIT is publicly traded on the NYSE under the symbol PEI.
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Eman93
4,750 posts
msg #89444
- Ignore Eman93 |
3/11/2010 7:17:10 PM
I was really considering buying some at the close.....
If I had known there was a chance of news.... I may have
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Eman93
4,750 posts
msg #89445
- Ignore Eman93
modified |
3/11/2010 8:14:13 PM
CLNE..... first posted on 2-25
see the volume on the break out...... thats what everyone jumps on... I saw it pop today and jumped in for a nice scalp
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Eman93
4,750 posts
msg #89446
- Ignore Eman93 |
3/11/2010 8:17:22 PM
Keeping my eye on TAN...... FLSR did get downgraded today but still went up
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Eman93
4,750 posts
msg #89449
- Ignore Eman93 |
3/11/2010 10:33:23 PM
In my never ending quest for knowlage........ I found a cool site, that uses SF to scan and a trading method for options.
http://themeatballeffect.com/
Why meatball?
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Eman93
4,750 posts
msg #89468
- Ignore Eman93 |
3/12/2010 10:11:14 AM
PEI over 12
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