Source: www.bloomberg.com
Centro Continues Talks With Lenders to Extend Debt Deadline
By Laura Cochrane
May 8 (Bloomberg) -- Centro Properties Group, the Australian owner of about 650 U.S. malls, is continuing talks with lenders about extending yesterday's deadline to repay as much as A$6.6 billion ($6.2 billion) in debt.
The company is in meetings with creditors this morning and an agreement is expected today, Jim Kelly, a Sydney-based spokesman for Centro, said today in a phone interview.
Australian lenders and U.S. noteholders owed A$2.8 billion granted Melbourne-based Centro another week to renegotiate debt on April 30. U.S. and European banks in February gave Centro until the end of September to refinance loans owed them, provided other creditors granted a similar extension.
Ends.
Cheers, Pie :-)
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