Centro reassures market on funding
Centro Property Group used an announcement to the Australian Securities Exchange late yesterday to reassure the market that it was confident of extending funding facilities amounting to billions of dollars before the end of next week.
The company is looking to extend the facilities until at least September 30 and claimed yesterday that the negotiation of all material terms for the further extensions had been substantively concluded (subject to final documentation) with all of its financiers except one, which is owed less than $200 million.
“All of the other relevant financiers, comprising Australian lenders, US Private Placement note holders and US lenders, have indicated their support for the longer term extension and [will] continue to work constructively to finalise these arrangements as quickly as possible by May 7,” it said.
AUTHOR
Mike Taylor
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