"But underneath those big debts, Centro and Babcock and Brown and Allco owe a total of $34 billion, providing their lenders with deep concern that the assets behind these enormous amounts will create big losses There simply aren’t the buyers to cover that sort of debt, so you can feel “ ridiculous” sale prices likely to emerge if lenders demand their money. Groups like Stockland, Goodman and GPT have been smart enough to raise equity to get them through this period."
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Cheers, Pie :)
CNP Price at posting:
4.7¢ Sentiment: None Disclosure: Held
