CENTRO Properties Group has appointed three advisors to help with a review of its business, after the company recently was unable to refinance some of its maturing debt.
The advisors are Lazard Carnegie Wylie, KPMG and Freehills.
”That review will consider options available to secure the long term capital structure of Centro and its managed funds to reduce gearing levels,'' Centro said.
Australia's second largest shopping centre operator also reiterated that it could sell assets to pay down short-term maturing debt, as well as issue equity.
Centro must by February 15 come up with a plan to refinance the debt.
source: news.com
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