The increased aggregate leverage came about despite a $19.5 million reduction in LMIRT’s debt obligations from the completion of tender offers for LMIRT Capital, a wholly-owned subsidiary of LMIRT, for its senior unsecured notes due in 2024 and 2026 on Dec 29, 2023.
Lippo Malls Indonesia Retail Trust’s (LMIRT) (SGX:D5IU
) aggregate leverage ratio has inched upwards to 44.3% as at Dec 31, 2023, compared to 43.0% as at the end of September last year.
On Jan 4, the manager of LMIRT said in a bourse filing that the increase was mainly due to a decline of approximately 7.7% in the indicative portfolio valuations of its investment properties as at the end of 2023 compared to the carrying value at the end of 9MFY2023.
