Centro Retail Trust (CER) said it has fully repaid the Galileo America LLC loan facility related to the Centro Shopping America Trust (“CSF”) portfolio. As a result, the shopping centre owner said that previously restricted cash can now flow from CSF to CER.

Centro Retail said the money had been repaid from a combination of assets sales and existing cash.

Since 1 July 2009 Centro has off-loaded seven assets in the US for US$97.8 million, with Centro Retail’s share being US$93.4 million.

As was mentioned in May 2009, the paydown of this debt to below $50 million enabled money to transfer from CSF to CER.

"The full repayment of this loan removes the remaining restrictions that existed under this facility including the ability for net proceeds from any future asset sales within CSF to flow from CSF to CER,” the company said.

At the close Thursday, Centro Retail shares were trading at 20c.