But the two companies are different in two fairly significant ways.
Number 1 Centro had to $4 billion of short term debt which matured on 30 April, 2008. That was why it came undone in the first place. GPT has to refinance $100 million this year and $800 million next year. Most of the debt is long term and fully hedged. Only 37% of CNPs debt was hedged. Number 2 GPT has look through gearing (including the JV) of 46.8%. CNP had look though gearing (ie over it's funds) of 75.2%
There are a lot of others. If interested you might like to check out the two presentations to the market.
v v v v CNP data http://stocknessmonster.com/news-item?S=CNP&E=ASX&N=293765
GPT data http://stocknessmonster.com/news-item?S=GPT&E=ASX&N=495019
Feel free to add others...
GPT Price at posting:
0.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)