Daily Brief Credit: Lippo Malls Indonesia – Event Flash – Tender Offer For USD Notes – Lucror Analytics and more

Lippo Malls Indonesia Retail Trust has launched a capped tender offer for its two outstanding USD notes: the 7.25% ’24s, with USD 231.8 mn outstanding; and the 7.5% ’26s, with USD 181.7 mn outstanding. The purchase prices will be 76.5 for the ’24s, and 66.5 for the ’26s. Funding for the tender offer would be from, and capped by the size of, an INR 2.5 tn (SGD 215 mn) secured amortising term loan facility.

We recommend that holders of the ’24s and ’26s tender their notes.

Lucror Analytics Morning Views comprise our fundamental credit analysis, opinions and trade recommendations on high yield issuers in the region, based on key company-specific developments in the past 24 hours. Our Morning Views include a section with a brief market commentary, key market indicators and a macroeconomic and corporate event calendar.