5year swap + prop co quote ...

Is a nice sound bite but the reality is if you own assets that are priced tight to the swap ... and there are in sectors where you are fighting a strong secular headwind that reduces your capacity to drive up net operating cashflows and limits your capacity to raise incremental capital ... the you do actually own a five year swap with an option on the spread between your basis in your assets and what you could sell them for (if you can sell them)...  and if you are listed - the market decides for you ...