Source: www.smh.com.au/business
Centro Properties in trading halt
April 30, 2008 - 10:19AM
Shares in Centro Properties Group, which is facing a Wednesday deadline to refinance heavy debts, were placed on a trading halt ahead of an announcement from the group.
Centro,which owns 700 US shopping malls, borrowed heavily last year to fund a rapid expansion and is under pressure to sell assets to raise cash. The stock has dropped as low as $0.23 after trading above $10 in May 2007.
Centro's main local bankers are ANZ, Commonwealth Bank, National Australia Bank and St. George Bank.
It also has US bank creditors including JP Morgan and Bank of America.
Reuters
Ends.
Cheers, Pie :-)
Source: www.smh.com.au/businessCentro Properties in trading...
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)