Centro close to long-term extension TOP News US market rises on tech stocks 6:21 AM NZ Telecom posts 22.5% profit drop 6:45 AM US passes $US300bn mortgage bill 6:34 AM Budget set to beat surplus forecast 4:05 AM Centro close to long-term extension 4:11 AM
The Spectators Bartholomeusz: Vendor beware Thrown a curve-ball Britain's economic shift Kohler: Allco's lease on life Analysing analysts By a staff reporter
Troubled property group Centro says only one local lender, owed less that $200 million, is yet to agree to a further five month extension to refinance its domestic debt.
The single holdout was revealed as Centro continues its negotiations with lenders to refinance $2.3 billion in local debt and $505 million owed to US private placement noteholders.
Yesterday, Centro secured a temporary seven day extension on its local and US private placement debt, although this could be extended if Centro can agree terms with the remaining lender.
Its other US lenders, owed $1.3 billion, have already agreed to the September 30 deadline.
Centro's main local bankers are Australia and New Zealand Banking Group Ltd, Commonwealth Bank of Australia Ltd, National Australia Bank and St George Bank Ltd.
Its US creditors include JP Morgan and Bank of America
CNP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
