Sky News
Updated: 11:36, Tuesday December 16, 2008
The future of Centro remains in the balance, with banks still working on hammering out a rescue plan.
It's now expected the banks will extend debt deadlines to pay back around 6 billion dollars to March next year.
Centro's Australian banking syndicate includes the CBA, the NAB and ANZ, with the Commonwealth boasting the biggest secured exposure of more than 1 billion dollars.
Talks have reportedly centred on a stablization plan for the company, while the struggling property outfit has also been trying to persuade its bank's to convert some of the debt into a hybrid security.
yes all speculation at this point.
Again im not sure what the banks expect to happen between now and March in any event.
Then again, no point debating on an article not written by the company itself.
yet another article to kill time
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