Lippo Karawaci prices swift $125 million tap

Ignoring weak market conditions, Lippo Karawaci successfully reopens its April 2015 bond and prices the deal just hours after launch.

Indonesian real estate developer Lippo Karawaci yesterday launched and priced a $125 million tap of its outstanding 9% bond due April 30, 2015.

The deal was launched at about 11am Hong Kong time and closed at around 3.30pm after a quick bookbuild. Investor demand from Asia was so strong that the leads didn't see the need to leave the books open for long, and the early close meant that European accounts had to make their decision by 7.30am London time....

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