CER
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0.00% 32.0¢ centro retail group

commonwealth bank debt sales brings centro sal, page-3

  1. nursery
    18,159 Posts.
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    17/11/10
    21:35
    Post #: 7490017
    What you are suggesting would apply to CNP but not CER. Once again the two are confused.

    The reason why the commonwealth bank would sell CNP debt at that price is because that is all the asset backing that debt has. CER debt has asset backing far in excess of the debt as far as real estate security is concerned. The price obtained by the bank accurately reflects the NTA of CNP.

    That Centro name is the biggest liability that CER has.
    CER Price at posting: 22.5¢ Sentiment: Hold Disclosure: Held
    Likes Created with Sketch. 7  Upvote
    lightbulb Created with Sketch.  Great analysis
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