Indonesia's Lippo Karawaci gives guidance on $200 million five-year notes at 9% area

By Paul A. Harris

St. Louis, Feb. 27 - Indonesian property developer PT Lippo Karawaci Tbk. gave guidance on its $200 million offering of five-year fixed-rate notes that was in the 9% area, according to an informed source.

Pricing is expected on Tuesday morning.

UBS Investment Bank has the books for the Regulation S offering.

The notes will be non-callable for three years, after which they will become callable with standard high-yield premium calls.

Moody's Investors Service placed its B2 foreign currency senior unsecured bond rating of Lippo Karawaci Finance BV under review for possible upgrade following the placement of Indonesia's B2 foreign currency bond rating on review for possible upgrade.

Lippo Karawaci Tbk.'s B1 local currency corporate family rating was affirmed with a stable outlook.

Lippo Karawaci is one of the largest property developers in Indonesia with a market capitalization of more than $550 million, the agency said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.