Loan provider City Pacific yesterday requested a two day trading halt as its shares lost almost half their value to close at just under $1.
The drop in share value came as investor concerns mounted around the company’s ability to repay a $240 million loan facility to the Commonwealth Bank.
The lender will need to repay an instalment of $90 million to CBA by the end of March, with the remainder of the loan to be repaid by the end of May.
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Published: 05-03-08
