Spanish debt-loaded property company Habitat admitted in a note to its creditor banks this week that it won't be able to meet debt payments due by the end of 2008, Spanish paper El Pais reported on Friday. The company, whose acquisition of Ferrovial's real estate division in 2007 was fuelled with debt, said that it can’t meet payments of EUR 35 mln part of a EUR 1.6 bn refinancing agreement sealed seven months ago. The paper said that the company will meet creditor banks to try to avoid filing for administration.
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