The lesson to learnt here is "never borrow to speculate". This is what Centro did. They borrowed in a boom from greedy bankers. Shylock ALWAYS wants his pound of flesh. Even the most beneolent of bankers expect to be paid back on time and with interest. Simple as that. The story has been told by the publishing of the NTA of both CNP and CER on a regular basis. The story was told in loud speak when the banks sold debt at discounted prices. They took a loss and expect CNP holders to take the same medecine.
So now we have what we have left today. No good crying over the spilt milk. We have CER with a healthy Australian portfolio, manageable debt and a profitable business. Onwards and upwards from here.
CER Price at posting:
34.0¢ Sentiment: LT Buy Disclosure: Held
