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News Aug 18, 2016

Shearman & Sterling Advises on Lippo Karawaci’s High Yield Bond Offering

Shearman & Sterling advised Citigroup, Deutsche Bank, UBS, Bank of America Merrill Lynch, and Credit Suisse as underwriters on the issuance of US$260 million 7% senior notes due 2022 by Indonesia-listed PT Lippo Karawaci Tbk (Lippo Karawaci). The notes were issued under Regulation S and are traded on the Singapore Exchange Securities Trading Limited.

Lippo Karawaci is one of the leading broad-based property companies in Indonesia by market capitalization, assets and revenue. Its key business areas include urban development, large-scale integrated development, retail malls, healthcare, hospitality and infrastructure, as well as property and portfolio management.

The Shearman & Sterling team was led by partners Alan Yeung (Hong Kong-Capital Markets), Kyungwon Lee (New York/Hong Kong-Capital Markets) and Mei Lian (London-Finance); with support from counsel Joji Ozawa (Singapore-Capital Markets); and associates David Wallace (Hong Kong-Capital Markets) and David Shennan (London-Finance).

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