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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Enterprise Reports Record Results for First Quarter 2008

Enterprise Products Partners L.P. (NYSE:EPD) today announced its financial results for the three months ended March 31, 2008. The partnership reported a 132 percent increase in net income to $260 million, or $0.51 per unit on a fully diluted basis, for the first quarter of 2008 compared to net income of $112 million, or $0.20 per unit on a fully diluted basis, for the first quarter of 2007.

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Debt-ridden Centro gets 7-day extension

TROUBLED Centro Properties Group has received a seven-day refinancing extension on its $2.3 billion debt owed to its Australian lenders.

The extension was to allow for "the finalisation of discussions with all financiers and the completion of documentation for a longer term extension", the company told investors.

Shares were in a trading halt today pending an announcement from the company after it reached its refinancing deadline today.

The interim extension expires on May 7.

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.


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