Centerline pushes out term loan reduction date

By Sara Rosenberg

New York, Nov. 21 - Centerline Holding Co. extended the date by which its term loan must be reduced to $50 million to Dec. 5 from Nov. 21, according to a news release.

The company is currently in discussions with its bank lenders to restructure its senior loan facilities and has made substantial progress toward that end, the release said.

In addition, the company announced on Friday that one of its existing lenders has agreed to provide $15 million of new funding to retire a repurchase facility due at the end of this month.

Centerline is a New York-based investment holding firm.

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