Indonesia's Lippo Karawaci sets talk at 11% area for five-year notes

By Christine Van Dusen

Atlanta, Nov. 6 - Indonesia's Lippo Karawaci Tbk. set initial price talk in the 11% area for its offering of five-year dollar-denominated notes (/B+/B), a market source said.

Credit Suisse is the global coordinator for the Regulation S deal. Credit Suisse and Raiffeisen Bank International are the joint bookrunners.

The proceeds will be used for refinancing of existing debt, to fund a debt service account and for general corporate purposes.

The notes include a change-of-control put at 101%.

Lippo Karawaci is a Tangerang, Indonesia-based residential and commercial urban developer.

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