Press Release
Lippo Karawaci Successfully Launches Five-Year $325 Million Bond, Sees Very Strong Demand With 4.5x Oversubscription
15 January 2020
  • Lippo Karawaci successful in launching a five-year bond valued at $325 million on January 14, 2020
  • Proceeds from the bonds will be used to partially repay bonds maturing in 2022, implying that Lippo Karawaci will have limited debt maturing over the next five years until 2025
  • LPKR, with a Net Debt to Equity ratio of 21%, is amongst the least leveraged among Indonesian real estate peers
  • Transaction demonstrates investors conviction and support in LPKR’s financial position and future

– PT Lippo Karawaci Tbk (“LPKR” or the “Company”), Indonesia’s largest real estate company by assets and revenues, has successfully launched a five-year bond, valued at $325 million, on January 14, 2020. The bond will offer a yield of 8.125% and the proceeds will be used to partially repay bonds maturing in 2022. In addition, the Company is in the final stages of securing a facility to refinance the remaining $100 million in bonds upon which Lippo Karawaci will have no debt maturities over the next five years until 2025.

At a Net Debt to Equity Ratio of 21%, Lippo Karawaci has amongst the lowest leverage of all Indonesian real estate companies. The refinancing of the 2022 Bonds further improves LPKR’s debt maturity profile.

The launch generated a very positive reception among investors with the issuance of the bond being oversubscribed by 4.5 times and having an order book of $1.45 billion. 

John Riady, CEO of LPKR, commented: “We are very pleased to see that our new five-year bond attracted significant investor interest and was significantly oversubscribed.” John added “the bond demonstrates investors’ conviction in LPKR’s financial strength. We will use the proceeds toward paying off our 2022 bonds, meaning we will have limited debt due until 2025.” He continued, “This latest success illustrates investors’ faith in LPKR as a strong franchise with a trusted history of repaying its debts to domestic and overseas lenders.”

This latest bond issuance is supported by global book runners Credit Suisse, BNP Paribas and Deutche Bank.

About Lippo Karawaci (“LPKR”) (

Listed on the Indonesia Stock Exchange, Lippo Karawaci (“LPKR”) is Indonesia’s leading integrated real estate company with total assets of US$4.0bn at 30 September 2019. Our core business comprises urban residential developments, lifestyle malls and healthcare. We are also actively involved in integrated developments, hospitality, township development and management, as well as asset management services.

Currently, the Company has a presence in 35 cities, and is a leading Indonesian property developer with 1,461 ha of landbank ready for development. Through our two publicly listed subsidiaries, PT Lippo Cikarang Tbk, and PT Gowa Makassar Tourism Development Tbk, of which LPKR owns 81.0% and 62.7% respectively, LPKR develops and operates urban developments at Lippo Cikarang in Bekasi and at Tanjung Bunga in Makassar. Additionally, LPKR owns 51.05% of PT Siloam International Hospitals Tbk, Indonesia’s leading private hospitals network, with 36 hospitals across 24 cities nationwide.

LPKR also has an ownership stake in two listed REITs in Singapore, namely First Real Estate Investment Trust and Lippo Malls Indonesia Retail Trust with US$1.0bn and US$1.4bn of assets under management respectively, as at 30 September 2019. 

For more information please contact:

Investor Relations:
Bret Ginesky
Head of Investor Relations
[email protected]
Office: +622125669078

Corporate Communications:
Danang Kemayan Jati
Vice President, Head of Corporate Communications
[email protected]
Mobile: +628557801299

This press release has been prepared by PT Lippo Karawaci Tbk (“LPKR”) and is circulated for the purpose of general information only. All opinions and estimations included in this release constitute our judgment as of this date and are subject to change without prior notice. LPKR disclaims any responsibility or liability whatsoever arising which may be brought against or suffered by any person as a result of reliance upon the whole or any part of the contents of this press release and neither LPKR nor any of its affiliated companies and their respective employees and agents accepts liability for any errors, omissions, negligent or otherwise, in this press release and any inaccuracy herein or omission here from which might otherwise arise.

Forward-Looking Statements 
Certain statements in this release are or may be forward- looking statements. These statements typically contain words such as "will", "expects" and "anticipates" and words of similar import. By their nature, forward looking statements involve a number of risks and uncertainties that could cause actual events or results to differ materially from those described in this release.