Centro in trading halt as debt due

TROUBLED Centro Properties Group has gone into a trading halt ahead of an expected announcement on its debt refinancing.

The deadline for the $2.3 billion in debt owed to its Australian lenders falls today. Centro said its securities would remain in a halt until this Friday unless an announcement is made to the market earlier. The retail property trust owes $5.4 billion worth of debt in total, including debt owed to both US financiers and private noteholders. Centro ran into trouble after it borrowed heavily last year to fund its expansion into the US and has since contended with the global credit crunch. The trading halt today also includes Centro Retail Group securities. Share this article What is this? .



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