Oct 20, 2010

Lippo Karawaci picks Citi & Deutsche

Property developer PT Lippo Karawaci Tbk (LPKR), which is currently very agressive to raise fund, is in talks with Citigroup Capital Markets and Deutsche Bank to get advice on US$100 million bond issuance. 
Lippo Karawaci, which just raised Rp2.20 trillion from rights issue, is aiming to refinance bond due on March 2011. 
The company hopes to tap financing from global debt market to strengthen and underpin business growth. The refinancing is expected to save 2%-5% financing cost in the next 5 years. Lippo Karawaci plans to issue US$100 million in November after shareholders approve the plan. 

Disclosure: No position at the stock mentioned above.
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