JAKARTA - PT Lippo Karawaci Tbk (LKPR) issued bonds with a total value of US$ 325 million and a yield of 8.12% that will mature in 2025. Funds obtained from the bond issuance will be used to pay some of its debt that will mature in 2022.
As quoted from the company's disclosure, the bonds are oversubscribed by 4.5%. This is considered as a positive response from investors. John Riady, Chief Executive Officer (CEO) of Lippo Karawaci, said that the excess demand for the bonds indicates confidence in the company's financial strength.
In addition, LPKR is in the final stages of obtaining a loan facility which will be used to repay some of its debt.
The bond issuance is supported by global bookrunners, among others, Credit Suisse, BNP Paribas, and Deutsche Bank. (LK/AR)