Indonesia-based Lippo Karawaci’s Theta unit concludes consent bids for 2025, 2026 notes

By Rebecca Melvin

New York, Oct. 16 – Theta Capital Pte. Ltd. said it has concluded its consent solicitations regarding $420 million 8 1/8% notes due 2025 (ISIN: XS2099273737) and $417.03 million 6¾% notes due 2026 (ISIN XS1506085114), guaranteed by parent company PT Lippo Karawaci Tbk., according to a notice on Friday.

Pursuant to the Sept. 18 consent solicitations, Theta Capital sought to waive certain covenants under the 2025 notes and certain terms and conditions of the 2026 notes and its governing trust deed to allow the company to proceed with divestment of Lippo Mall Puri and the potential funding of LMIR Trust by the company.

The company said the relevant consent fee has been paid.

As previously reported, valid consents received prior to 11 a.m. ET on Sept. 30 were eligible for an early consent fee of $3 per $1,000 principal amount of the notes.

The expiration date of the 2025 notes’ consent solicitation was on Sept. 30, and the expiration date of the 2026 notes’ consent solicitation was on Oct. 9.

The issuer is a Tangerang, Indonesia-based residential and commercial urban developer.

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