AFR ARTICLE The Prince: Page 10Its the middle of the worst...

AFR ARTICLE
The Prince: Page 10

Its the middle of the worst credit sqeeze in memory. You owe $6.6 billion that was due on April 30, but you have convinced the banks to give you another week. And you know what that means? Its party time.
And, no, Sydney is not adequate. It has to be Las Vegas.
The hottest invite at the forthcoming meeting of International Council of Shopping Centres, which attracts about 50,000 junketeers, is to Cirque du Centro, which promises a magical evening of wonder and ammusement as acrobatic performers entertain and amuse-Flip over fabulous food and grove to the sounds of the groove shack.
Of course there are always naysayers-nigardly investors who cavil at the way the shareprice has leapt from $10 to the .50c mark. But the party will go on. Centro isnt planning to hold out on one bank delaying its refinancing package (rumoured to German Institution westLB) spoil the fun.
This is a party for optimists, scheduled for May 19th, as Centro works to reset its debt after being granted an extension by lenders until May 7th. And where else to hold the party but Poolside at Treasure Island.
Perhaps there will be chests packed with Centro stock, granted in beter times to Glenn Rufrano and his merry band. Of course there are bankers-and doesnt banking bring out the sunny side in ones nature?-who suggests that it only takes one lender not to play ball to bring any party to any early close?
Centro sensibly doesnt look likely to let that get in the way of a good time, and says extensions with lenders have been substantively concluded with all financiers except one, which is owed less than 200million. Its completely safe.



Cheers all!