Total Portfolio value A$24.9bn (Page 9 Centro FY08 Half Year Results) Subtract 15% for a safety margin. A$21.1bn Total Debt A$17.560bn (Page 28 Centro FY08 Half Year Results) Equity = 3.54bn By my calculations the outstanding shares for this Centro are approx 844,736,842 (Please correct me if I am wrong) 3,540,000,000 / 844,736,842 = 4.190654206 – a further 50% = 2.095327103
Is there anything particularly wrong with those figures? I am just trying to work it all out.
On Page 29 of the Centro FY08 Half Year Results it shows a figure of approximately 2.75 bn due on June-08 now by my understanding we expect that this debt is now moved up to December pending the Monday announcement. Which will give a total figure due of approx 3bn, my question is this. The Centro America fund (I believe is its name) is valued at 1-1.5 bn along with the various properties that are for sale, will they be enough to cover this debt? Furthermore wont the sale of these assets eat into the cashflow of the company in the following months?
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
