Shopping centre developer, Centro Properties Group (ASX:CNP) says it has completed financing arrangements for around US$2.7 billion of US$3.2 billion debt within the Super LCC joint venture, that was due to expire on or before the end of this year.
Super LCC includes Centro Properties Group, Centro Retail Trust and Centro MCS 40.
The company has advised that the restructure is continuing, and the financing arrangement includes an extension of around US$2.3 billion and a refinancing of over US$400 million.
Centro says a number of options are being considered to address the remaining balance of around US$440 million, and remains confident a resolution will be achieved in due course.
Centro Properties Group reported a $3.5 billion loss for the year ending 30 June 2009.