Opus Group has had its debt deadline extended to Friday as it closes in on a new debt agreement with its bankers.

Opus reported in its 2012-13 results that it was required to repay $20 million of debt to the Commonwealth Bank by 30 September.

That deadline was extended to 2 October as the group sought to negotiate a new deal with the Commonwealth Bank.

Opus announced today that the deadline had now been extended to 4 October while negotiations continued.

"On 30 September 2013, the company advised that it had earlier reached an in-principle agreement with its senior financier, the Commonwealth Bank of Australia, for the variation of the Opus Group's debt facility and the associated debt repayment timetable, subject to final documentation and agreement," said today's statement.

"A further extension has been provided by the CBA until Friday 4 October 2013 in order to allow for the finalisation of documentation."

[Related: Ups and downs of Opus Group]

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