SYDNEY, Australia (AP) - Centro Properties Group, a shopping mall operator struggling through the global credit crunch, said Friday it has completed a long term refinancing agreement with Australian and U.S. lenders on about 4 billion Australian dollars ($2.6 billion) of debt.
The deal includes a three-year extension on AU$3.9 billion ($2.6 billion) on the senior syndicated debt facility, a AU$1 billion ($700 million) hybrid security to improve cash flow servicing and AU$35 million ($23 million) in fresh liquidity to help cash flow, the company said in a statement.