by Amruth Sundarkumar | Apr 11, 2023 | Credit Ratings, High Yield Bonds, Southeast Asia
Lippo Malls Indonesia Retail Trust (LMIRT) was downgraded to CCC- from CCC by Fitch. This was on the back of material delays in the refinancing of LMIRT’s term loans due November 2023 and January 2024. The amounts due on these loans are S$135mn and S$83mn...
by Arundhati Behera | Mar 16, 2023 | High Yield Bonds, Southeast Asia
Indonesia’s Lippo Karawaci repurchase a total of $120mn of its 2025s and 2026s as part of its tender offer (Term of the Day, explained below) launched on March 6, as per IFR. This is more than twice the initial maximum acceptance amount of $50mn announced at the time...
by Amruth Sundarkumar | Mar 9, 2023 | Credit Ratings, High Yield Bonds
Lippo Malls Indonesia Retail Trust’s (LMIRT) was downgraded to CCC from CCC+ by Fitch, following doubts over its ability to refinance its S$547mn debt due in the coming 18 months. LMIRT’s senior unsecured notes due 2024 and 2026 were also downgraded to CCC from CCC+....
by Amruth Sundarkumar | Feb 21, 2023 | Credit Ratings, High Yield Bonds, Southeast Asia
Lippo Malls Indonesia Retail Trust (LMIRT) was downgraded to CCC+ from B by Fitch due to the “heightened risk” it faces in refinancing large upcoming debt maturities. This is amid “unfavorable debt capital market conditions and weakening investor...
by Amruth Sundarkumar | Jan 12, 2023 | High Yield Bonds, Southeast Asia
Lippo Karawaci’s bond buyback will broaden funding diversity and reduce foreign-currency risk, Fitch noted, contingent on the buyback being accepted. Lippo had launched a tender offer and consent solicitation yesterday for its $405mn 8.125% 2025s and $417mn...
