Centro Retail closes portion of equity hedges

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By a staff reporter

Centro Retail Trust (CER) has closed a portion of its equity hedges with Centro Properties Group following the strong appreciation of the Australian dollar, reducing its net equity hedge exposure to Centro by $405 million.

Centro Retail Group said in a statement to the Australian Securities Exchange (ASX) that the mark-to-market value of its hedges was now zero.

The group said the trust's remaining equity hedges with Centro Properties now totalled $1.8 billion.

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