Indonesia's Lippo Karawaci seeks to amend 8 7/8% notes due 2011

By Devika Patel

Knoxville, Tenn., Sept. 9 - PT Lippo Karawaci Tbk. said its subsidiary, Lippo Karawaci Finance BV, plans a meeting on Sept. 30 to discuss amending its 8 7/8% senior notes due 2011.

The company is asking its noteholders to consent to the waiver of certain terms and conditions of the notes and the applicable trust deed, which would permit the company to pay up to $10 million in dividends to its shareholders.

The company has offered to pay a fee as an incentive to the investors in order to procure their acceptance of this waiver.

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

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