--- title: "Quick Summary: Manulife US REIT Recapitalisation Plan" description: Manulife US REIT introduces a Recapitalisation Plan to enhance its financial position after a decline in portfolio valuations. Find out the proposed plan and important dates for investors to vote. --- [Skip to content](https://reitsavvy.com/insights/quick-summary-manulife-recapitalisation-plan#main-content) [![op can-4](https://reitsavvy.com/hs-fs/hubfs/op%20can-4.png?width=7114&height=2442&name=op%20can-4.png)](https://reitsavvy.com/) ![menu-toggle](https://21645388.fs1.hubspotusercontent-na1.net/hubfs/21645388/menu-toggle.svg) ![menu-close](https://21645388.fs1.hubspotusercontent-na1.net/hubfs/21645388/menu-close.svg) ![menu-toggle](https://21645388.fs1.hubspotusercontent-na1.net/hubfs/21645388/menu-toggle.svg) ![menu-close](https://21645388.fs1.hubspotusercontent-na1.net/hubfs/21645388/menu-close.svg) - [Home](https://reitsavvy.com) - [What's a REIT](https://reitsavvy.com/what-is-reits) - [S-REITs Overview](https://reitsavvy.com/s-reits-overview) - [REITsavvy Subscription](https://reitsavvy.com/reits-screener) - [REITsavvy Screener Login](https://screener.reitsavvy.com/) - [REITsavvy Insights](https://reitsavvy.com/insights) - [Events](https://reitsavvy.com/events) - [About Us](https://reitsavvy.com/about-us) - [Home](https://reitsavvy.com) - [What's a REIT](https://reitsavvy.com/what-is-reits) - [S-REITs Overview](https://reitsavvy.com/s-reits-overview) - [REITsavvy Subscription](https://reitsavvy.com/reits-screener) - [REITsavvy Screener Login](https://screener.reitsavvy.com/) - [REITsavvy Insights](https://reitsavvy.com/insights) - [Events](https://reitsavvy.com/events) - [About Us](https://reitsavvy.com/about-us) [S-REIT News Update](https://reitsavvy.com/insights/tag/s-reit-news-update), [2023](https://reitsavvy.com/insights/tag/2023) # Quick Summary: Manulife US REIT Recapitalisation Plan [By- REITsavvy Team,](https://reitsavvy.com/insights/author/reitsavvy-team) The management of Manulife US REIT introduces a Recapitalisation Plan to help the REIT move forward. Background Manulife US REIT unveils a Recapitalisation Plan, to enhance the REIT's financial position. This follows a 14.6% decline in portfolio valuations to US$1,633.55 million in 1H 2023, breaching a financial covenant and prompting strategic measures to address the issue. The Plan : Recapitalization Plan - Approximately US$285.0 million of proceeds to pay down debt owed to Lenders on a pari passu basis through the US$98.7 million sale of Park Place to Sponsor, US$137.0 million Sponsor-Lender Loan and US$50.0 million of cash from MUST’s own cash holdings. - Proposed Disposition Mandate to raise at least US$328.7 million through asset dispositions - **Dividends:** Half-yearly distributions continue **to be halted** till 31 December 2025, unless Early Reinstatement Conditions are achieved - Lenders to waive MUST’s past and existing financial covenant breaches, extend all loan maturities by a year, and relax financial covenants ![MUST_Recapitalization_Plan](https://reitsavvy.com/hs-fs/hubfs/Others/MUST_Recapitalization_Plan.png?width=2500&height=1092&name=MUST_Recapitalization_Plan.png) What is needed for the plan to move forward? For the plan to happen, investors have to vote in favor for all 3 resolutions. ![MUST_Voting](https://reitsavvy.com/hs-fs/hubfs/Others/MUST_Voting.png?width=2326&height=1220&name=MUST_Voting.png) **Crucial dates for investors to remember when submitting their decisions** Especially for SRS holders, the cut off date is earlier so do take note! ![MUST_Deadline](https://reitsavvy.com/hs-fs/hubfs/Others/MUST_Deadline.png?width=2326&height=1172&name=MUST_Deadline.png)   For more details please refer to this[link](https://investor.manulifeusreit.sg/egm.html) ![op can-4](https://reitsavvy.com/hubfs/op%20can-4.png) **[Insights](https://reitsavvy.com/insights)** **[REITs Screener](https://screener.reitsavvy.com/)** Unless otherwise specified, all return figures shown above are for illustrative purposes only, are not actual customer or model returns and are not indicative of future performance or results. 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