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Bond Market News
Lippo Accepts $170.6mn of 2025s in Tender Offer
June 7, 2024
Lippo Karawaci repurchased $170.6mn of its 2025s and $48.86mn of its 2026s according to the published results of the tender offer concluded on Monday. With the conclusion of the tender offer, the amount of principal outstanding for its 2025 notes and 2026s stands at $66.5mn and $145.8mn respectively. Bondholders of both the notes will receive the consent fee of $5 for each $1,000 of principal on 13 June 2024. The buyback will help reduce the debt load on the company and ease the liquidity pressures.
Lippo’s 8.125% 2025s traded stable at 99.13 cents on the dollar, yielding 9.6%.
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