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Article: Centro Properties turmoil shaves more from superannuation fund returns.
- Article from:
- Australasian Business Intelligence
- Article date:
- December 20, 2007
CopyrightCOPYRIGHT 2007 News provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Marc Moncrief
Dec 20, 2007 (The Age - ABIX via COMTEX) -- Centro Properties' debt problems have reduced average superannuation fund returns by up to 2% so far in December 2007. The Australian shopping centre owner has revealed it is having difficulties refinancing $A1.3bn in debt that is due. SuperRatings MD, Jeff Bresnahan, said funds with a significant exposure to listed property trusts will be particularly affected by Centro's problems. Shares in Centro rose ...