Centro shares up on news of loan extensions

09/29/2008 | Sydney Morning Herald (Australia), The

Shares of Centro Properties Group rose 50% in trading this morning after the mall operator said it received a series of extensions on loans. "U.S. private placement noteholders and the Australian financiers have confirmed their satisfaction with Centro's progress towards its recapitalization and that the facilities of $450 million and $3 billion respectively" remain extended to Dec. 15, Centro said. Meanwhile, CEO Glenn Rufrano said he would like to stay with the company after his contract expires in January.

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Sydney Morning Herald (Australia), The

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