lend lease possible buyer for cer assets, page-5

Octain,

All australian properties owned by CER have fairly low gearing apart from a facility that is not due till late 2011, 2 years from now which is a Cash advance facility.

All the rest of cers australian properties are fairly well geared around 45 - 50 percent. e.g the debt just refinanced last week.

Only short term debt left to refinance is one that is geared much the same and it seems a no brainer that it will be refinanced.

I doubt they will have much of a chance to buy from cer. Maybe they should try the American market.