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Indonesia's Lippo Karawaci marketing dollar-denominated bond offering via UBS
By Paul A. Harris
St. Louis, Feb. 24 - Indonesia's PT Lippo Karawaci TBK began marketing a dollar-denominated fixed-rate bond offering on Thursday, according to an informed source.
Roadshow stops were planned to take place in Singapore, Hong Kong and London.
UBS Investment Bank has the books for the Regulation S offering.
Although the size of the issue and tenor of the bonds remain to be determined, earlier in the week Moody's Investors Service assigned its provisional B2 foreign currency senior unsecured rating to the company's proposed $180 million note issuance.
Lippo Karawaci is Indonesia's largest listed property and urban developer with a market capitalization of currently more than $575 million.
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