Northwire Canada EditionMonday, July 13, 2026
Sign inSubscribe
Northwire
⌕
GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Other

Ravelin Properties REIT Announces Expected Default on Upcoming Maturity of 9.00% Debentures

By The Northwire Desk — AI Analysis Feb 20, 2026 · 17:01 RPR · 0.16
RPR · Price

Executive Summary

  • Ravelin Properties REIT announced it does not expect to make principal or interest payments on its 9.00% convertible unsecured subordinated debentures when they mature on February 28, 2026.
  • The debentures will be halted at market open and delisted on March 2, 2026; the REIT is in default on interest payments since March 1, 2024.
  • No restructuring agreement has been reached, raising significant doubt about the REIT’s ability to continue as a going concern.

Key Details

  • Maturity & Payment Terms: 9% Debentures mature February 28, 2026; repayment price set at $1,180 per $1,000 principal.
  • Outstanding Amounts: Aggregate principal of $28,750,000 plus accrued/unpaid interest of $5,175,000 as of the announcement date.
  • Trading Halt & Delisting: Debentures (ticker “RPR.DB”) will be halted at market open on the maturity date and delisted at close of trading on March 2, 2026.
  • Default History: REIT has been in default on interest payments since March 1, 2024.
  • Current Status: The REIT is exploring alternatives but has not reached any agreement with stakeholders; no assurance of successful restructuring or additional financing.
  • Going‑Concern Risk: Management highlighted material uncertainty regarding the ability to obtain funding needed to continue operations.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

More from

May 29, 2026 · 12:33

Distressed REIT’s Clarke lifeline closes—debtholders pocket equity while unitholders cling to $0.17 of Clarke stock a unit

M&A / Property May 27, 2026 · 16:31

Ravelin clinches final court nod for Clarke takeover, wiping out legacy equity as the REIT’s $950M defaulted-debt saga ends with a whimper.

M&A / Property May 25, 2026 · 16:08

Ravelin’s Last Act: Unitholders Accept a Rescue That Leaves Them Almost Nothing, Clarke Inc. to Swallow the Distressed REIT

M&A / Property May 20, 2026 · 08:01

Ravelin Securityholders Back Bailout by Clarke as Insolvency Looms

M&A / Property May 15, 2026 · 20:07

Ravelin Properties REIT Nears Clarke Acquisition Close Amidst Debt Restructuring

Earnings May 13, 2026 · 18:43

Ravelin REIT Arrangement Gains Momentum Amidst Distressed Debt Overhang

M&A / Property