The drawdown of the IDR2.5 trillion facility is conditional upon obtaining requisite consents from the holders of the 2024 notes and the 2026 notes.
Embattled Lippo Mall Indonesia Retail Trust (LMIRT) has been thrown a lifeline. On Dec 11, LMIRT’s manager announced that it has obtained a IDR2.5 trillion (the equivalent of $215.72 million) amortising term loan for six years, subject to certain conditions including a consent solicitation exercise.
The new loan will be used to finance the repurchase of the outstanding 7.25% senior notes due in 2024, and the 7.5% senior notes maturing in 2026; and the consent fee.
