based on the article in the australian, appears that CBA are going to hold on to the decision till the last min, with no announcement till late tonight/tomorrow morning. Do we think we will get through this? what is the opinion on a three month performance ?
The talks continue amid expectations the banks would extend its deadline to pay back about $6 billion worth of debt to March next year.
Centro Properties Group yesterday requested a trading halt until tomorrow morning.
The shopping centre owner's deadline to pay back almost $6 billion expired at midnight last night.
The total owing on the three corporate loan facilities has climbed from about $4.95 billion in September to almost $6 billion due to currency fluctuations, although some of that is protected by various hedging arrangements.
Analysts expected the deal would be signed to roll over the debt for the struggling shopping centre owner for three months.
One said that key financier Commonwealth Bank of Australia would use the deadline to improve its position relative to other banks.
CNP Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
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