The agreement includes a 3-year extension on the $3.9 billion senior syndicated debt facility, Centro said in a statement to the Australian stock exchange.
The trading halt on Centro and its retail property trust Centro Retail group was lifted.
The agreement included a new $35 million working capital facility and $1.05 billion hybrid security to improve cash flow servicing and balance sheet strength.
At 10.18am (AEDT), securities in Centro had retreated to trade up 2 cents, or 17 per cent, at 14 cents in heavy trade.
Securities in Centro's retail property investment unit, Centro Retail Trust, fell half a cent to 10.5 cents.
"The 3-year debt stabilisation agreement achieves our objective of securing the long term viability of the group, and will have the effect of maximising cash flow through the re-structuring of our debt arrangements and minimising asset sale requirements,'' chief executive Glenn Rufrano said in a statement.
OZ Minerals wins debt lifeline
Troubled firm will sell 3 famous retail centers
Shares down 1pc as heavyweights slump
