4% of the
total capitalization of all existing firms.
With this acquisition, the
total capitalization of Insignia's portfolio is approximately $4.
With REIT share prices dropping, debt to
total capitalization has significantly increased, putting pressure even on the availability of debt.
In January, 1993, CIGNA issued an additional $200 million of senior notes, which if included in the 1992 year-end results would have resulted in a debt to
total capitalization ratio of 21.
This latest transaction adds to an existing Winthrop portfolio that represents over $6 billion in
total capitalization, and with over 2,500 employees, makes Winthrop Financial Associates one of the nation's largest real estate investment and management corporations.
On a pro forma basis, the debt issuance will increase SDG&E's total debt to
total capitalization ratio to 48% from 43%, and total debt to cash flow from operations to 3.
The index currently covers over 11,000 securities with a
total capitalization of more than USD 40 trillion.
Pro-forma for year-end 2004, total debt to
total capitalization drops from 48% to 46%.
The transactions also increase the proportion of secured debt relative to the
total capitalization, weakening the position of the senior unsecured noteholders.
At our most recent year end, January 30, 2005, outstanding debt was $31 million, or 19% of
total capitalization.
After this transaction, LMHC's total debt to
total capitalization is expected to remain below 25%.
