Centro Retail Trust (CER) and Centro Properties Group (CNP) announced today that they had both extended loans set to expire this month.

CNP said that as part of the extension, about $45 million of the loan would be repaid through proceeds from asset sales with the outstanding $325 million extended to December 2010 ($52 million) and December 2011 ($273 million).

Of the December 2009 total facilities of $370 million, CER’s allocation of this facility is $155.4 million.

The support from CMBS noteholders to extend the facilities demonstrates a degree of renewed confidence from the CMBS market in Australian retail property and the quality of centres owned by Centro funds,” Centro CEO, Glenn Rufrano said.

”Across the group, Centro has completed almost $1 billion of Australian refinancing in FY10 to date.”

The Centro Shopping Centre Securities CMBS 2006-1 is a Commercial Mortgage Backed Security program that issued $900 million of notes into the market in December 2006.

At 1020 AEDT, CER shares were unchanged at 15c, while CNP put on 0.5c to 24.5c.