Lippo Karawaci: tap-dancing to bond success

The Indonesian developer returned to the bond markets this week, after an earlier debt exchange proved a flop. That previous failure turned out to be a blessing.

Lippo Karawaci: tap-dancing to bond success

Lippo Karawaci returned to the bond markets this week, after being forced to pull a debt exchange earlier this year due to tepid demand. That earlier failure was fortuitous the company’s $260 million bond tap proved much cheaper than it had previously hoped.

The Indonesian property developer tried to pull off an ambitious liability management exercise at the start of the year, asking investors to accept a new 2023 bond in exchange for its outstanding...

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