Hope2008 - mate I think it will pull through!I will join the...

Hope2008 - mate I think it will pull through!

I will join the worried mob if centro is not producing enough income to cover interest repayments. Till then the banks are not going to foreclose on us becasue as we all know they will take a big hit! (Commbank is now even less chance of wanting to take a hit in my opinion after seeing that it has more then 500mil exposure to ABC learning which is in more trouble then Centro)

I think the best way foward is to extend the debt repayment for at least another year and issue about 1 billion of convertiable notes (to cash or shares).

I hope the structure of these notes is similar to TIMPB. It floated at $2.05 (currently $1.37)and in September09 it will convert to either $2.05 worth of shares or $2.05 in cash.

If centro does something similar and make it say a 3 year note it will give us time to get our house in order and hopefully sell a few centres and in the process drive the share price back up so when those notes convert to shares the current holders wont suffer any severe dilution!

Remember the old saying "Buy in gloom sell in boom"

Longterm Buy!