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Macquarie trusts step up efforts to cut gearing

Two of Macquarie Group's office property trusts are selling assets to lower their gearing. Macquarie Office Trust has sold assets at a loss and may need to raise equity to avoid breaching loan-to-value ratio covenants on some properties. Macquarie Direct Property Fund is close to its gearing target after selling assets


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http://www.businessspectator.com.au/bs.nsf/Article/Macquarie-trusts-step-up-efforts-to-cut-gearing-TQTBW?OpenDocument&src=ea&ir=1