No. of Recommendations: 0

I think I remember reading on TMF REITS board that Dilliards was considering the spin off their real estate into a publicly traded REIT. If so, Dilliard's would become a renter of the REIT's real estate and quite possibly Dilliard's debt would no longer be supported by the real estate (although I wonder if the debt would be covered by some type of covenant or if the debt would go to the REIT).

Do you have any memory or knowledge of this?

If the debt were to become an obligation of the spun off REIT, I would think the debt might be quite attractive, assuming Dilliards did not "trash" the REIT's balance sheet.
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