banks were set to be mauled

lateline business....

i suggest they read BussinessSpectator before pretending to understand what's going on.

fact of the matter the whole deal puts Centro in a much stronger position on all fronts.
the liquidity facility was won by GR after a hard fought battle as the banks wanted more security over the Os and US assets. This is a huge win for Centro because if the banks walk away then they get zilch in additional security in May......not a palatable option
don't believe me?

THE MARKET WAS SET TO MAUL THE BANKING SHARES TODAY if common sense hadn't prevailed. Imagine the huge write offs the banks would have had to incur if Sir Rod hadn't stepped in.
After news leaked about the deal the banking sector did a U-turn.....i rest my case lateline business!

They mightn't like this but the market spoke today loud and clear via the late rally in the banking sector shares.