This article is from the Australian Property Journal archive
CENTRO Retail Trust has negotiated a two year extension for $273.1 million debt.
Upon extension, CER will pay down the current $273.1 million facility to $248.5 million.
As part of the agreed terms, CER will make quarterly amortisation payments of $1.5 million and will need to gradually reduce Loan to Value Ratio targets throughout the term of the facility.
Additional principal repayments may be necessary to reduce the current 70% LVR to the 60% required at expiry in November 2011.
Australian Property Journal
