Bond Issuance and Real Estate Investment Trusts: A Closer Look

Topics:
Regulatory Compliance
Tags:
Bond,
Business Operations,
Debt Maturity,
Finance,
Investment,
Real Estate,
REIT
Source:
Louisiana Tech University

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Overview: This paper conducts an analysis of public debt offerings of Real Estate Investment Trusts (REITs) with a focus on the maturity of the incremental debt issues. Specifically, it investigates firm characteristics leading REITs to issue short- or long-term debt. The paper finds that debt maturity is directly related to firm quality as measured by credit ratings, firm size and debt maturity are inversely related, and debt maturity varies across REIT property focus, investment focus, and operating structure.

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Format: PDF | Size: 91KB | Date: Sep 2004 | Pages: 24


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