no official extenstion yet

No extenstion from the banks yet according to this article.

UPDATE 1-Centro says still working on debt extension

MELBOURNE, March 28 (Reuters) - Australia's troubled Centro Properties Group (CNP.AX: Quote, Profile, Research), which owns 700 U.S. shopping malls, denied a report on Friday that its lenders have agreed to extend a refinancing deadline to help the firm avoid a fire sale of assets.

The Age newspaper reported that a decision to extend the Australian banks' deadline from April 30 to Sept. 30 was made at a meeting of all financiers last week in San Francisco.

Centro told Reuters no such agreement has been reached, although the banks were working on an extension.

"While the Australian banks have not formally extended Centro's financing deadline beyond April 30, they have begun work on the extension," a Centro spokesman said.

He said Centro was pleased with the positive comments reported by bank representatives, which reinforced Centro's belief that its underlying business was sound.

Without citing sources, The Age saidthe bankers would prefer an orderly sale of Centro's assets rather than the fire sale that was looming to meet the April 30 cut-off.

The report said potential buyers have said they would prefer to buy separate assets rather than the Centro stakes in two wholesale funds that it is offering for sale.

Centro, one of Australia's biggest casualties of the global credit crunch, had previously gained an extension on a total of A$5.4 billion ($5.0 billion) in debt till April 30.

Its shares have fallen 95 percent since it first revealed debt refinancing problems in mid-December. It closed on Thursday at $0.245, just above a record low of A$0.23 and compared with a peak above A$10.00 last May. ($1=A$1.09) (Reporting by Victoria Thieberger)


http://www.reuters.com/article/rbssConsumerGoodsAndRetailNews/idUSSYD17888020080327


It seems that the Australian banks would prefer an extension but haven't yet granted it yet.