Centro reassures market on funding
Centro Property Group used an announcement to the Australian Securities Exchange late yesterday to reassure the market that it was confident of extending funding facilities amounting to billions of dollars before the end of next week.
The company is looking to extend the facilities until at least September 30 and claimed yesterday that the negotiation of all material terms for the further extensions had been substantively concluded (subject to final documentation) with all of its financiers except one, which is owed less than $200 million.
“All of the other relevant financiers, comprising Australian lenders, US Private Placement note holders and US lenders, have indicated their support for the longer term extension and [will] continue to work constructively to finalise these arrangements as quickly as possible by May 7,” it said.
AUTHOR
Mike Taylor
Recommended for you
ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test.
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
