http://online.wsj.com/article/SB122929964304905239.html?mod=resid...

http://online.wsj.com/article/SB122929964304905239.html?mod=residential_real_estate

"In Australia Monday, Melbourne-based Centro negotiated with roughly two dozen lenders to extend its payment deadline on $6 billion in debt due at the end of the day. Centro, which owns 650 shopping centers in the U.S. and roughly 130 in Australia and New Zealand, has offered to allow at least $1 billion of the debt to eventually convert into equity. In return, Centro has sought an extension of at least a year and lower interest rates."

That's probably US$1bn, rather than AUD.