Reported 6 months ago
Indonesian builder PT Lippo Karawaci plans to repurchase its dollar bonds, with its unit Theta Capital Pte. Ltd. buying back up to $432 million of bonds via a tender offer expiring on Monday. The move aims to reduce the company's debt and boost bondholders' confidence. The company has offered to pay at least $965 for every $1,000 of principal amount of the notes due in 2025 and a minimum of $895 for those due in 2026. This buyback could alleviate immediate pressure on Lippo, but challenges to raise funds to meet liabilities persist, as highlighted by analysts and ratings agencies.
Source: YAHOO