IF Centro have other options, then I can't see the benefit in converting the WestLB loan to a secured loan.
As I see it, this would only give them more ability to call the loan in and get their money back at the expense of SH's.
It seems that paying them out would get rid of one unwanted complexity and allow the major financiers to work with Centro without the distraction.
thoughts on westlb secured vs unsecured
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