Banks are considering whether to extend a February 15 deadline to allow embattled Centro Properties Group more time to solve its $3.9 billion shortfall, according to The Australian Financial Review.
Some banks are believed to be willing to provide an extension of the deadline, according to the AFR.
Local banks exposed to Centro include Commonwealth Bank of Australia (CBA), Australia and New Zealand Banking Group (ANZ) and National Australia Bank (NAB).
Centro and Centro Retail Trust were placed in trading halts last week.
The paper suggests that during that time management tried to convince lenders that more time would create a better outcome.
Ends.
Cheers, Pie :-)
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Held
