Lippo Malls solicits consents to amend four series of notes

New York, Sept. 21 – Lippo Malls Indonesia Retail Trust’s manager, LMIRT Management Ltd., announced a solicitation of consents for its S$50 million series 002 5.875% senior notes due 2017, its S$75 million series 003 4.48% senior notes due 2017, its S$150 million series 004 4.25% senior notes due 2016 and its S$75 million series 005 4.1% senior notes due 2020.

The company wishes to amend the trust deed and covenants of the notes so that the current limit for total borrowings and deferred payments of the note guarantor of 0.35 for the ratio of “consolidated total borrowings” to “consolidated total assets” is replaced by the aggregate leverage limit as set by the Monetary Authority of Singapore for real estate investment trusts under the Code on Collective Investment Schemes.

Meetings will be held at 10 p.m. ET, 10:20 p.m. ET, 10:40 p.m. ET and 11 p.m. ET on Oct 13 for the series 002, series 003, series 004 and series 005 notes respectively.

To pass, the change must be supported by 75% of the votes cast.

LMIRT will pay a consent fee of 2 basis points for consents delivered by the earlybird deadline or 1 bp for consents after that time. The earlybird deadline was not disclosed.

Citicorp Global Markets Singapore Pte. Ltd. and Standard Chartered Bank are solicitation agents. Citicorp Investment Bank (Singapore) Ltd. is tabulation agent.

Lippo Malls Indonesia is a Singapore-based real estate investment trust.

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