LMRTSP 7.250% 19Jun2024 Corp (USD)

Bond Factsheet

Matured/ Called

LMIRT Capital Pte. Ltd.

Indicative

Full Lot

Bid Price

99.250

Change in Bid Price

remove 0.306

Bid Yield (%)

Change in Bid Yield

Ask Price

100.250

Change in Ask Price

0.273

Ask Yield (%)

Change in Ask Yield

Indicative price as of 20 Jun 2024, 12:00am

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Bond Information

LMIRT Capital Pte. Ltd. operates as a special purpose entity. The Company owns and develops shopping centers. LMIRT Capital serves customers in Singapore.

Bond Issuer

LMIRT Capital Pte. Ltd.

Guarantor

Lippo Malls Indonesia Retail Trust

Announcement Date

12 Jun 2019

Issue Date

19 Jun 2019

Maturity Date

19 Jun 2024

Years to Maturity / Next Call

- / -

Modified Duration

Issue / Reoffer Price

98.973

Issue / Reoffer Yield

7.500

Coupon Type

Fixed

Annual Coupon Rate

7.250

Coupon Frequency

Semi Annually

Seniority

Senior Unsecured

Reference Rate

ISIN

XS2010198260

CUSIP

AZ1269952

Bond Currency

USD

Total Issue Size

250,000,000

Outstanding Issue Size

138,444,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

High Yield Corporate

Bond Sector

Financials

Bond Sub Sector

Real Estate Investment Trusts

Issuer Credit Rating (S&P/ Fitch)

***/ N.R

Bond Credit Rating (S&P/ Fitch)

***/ CC

Shariah Compliant

Exchange Listed

SGX

Bond Feature(s)

Issuer Call

At any time and from time to time on or after 19 Jun 2022, the Issuer may redeem the Notes, in whole or in part, at a redemption price equal to the percentage of principal amount set forth below, plus accrued and unpaid interest, if any, to (but not including) the redemption date and Additional Amounts, if any, if redeemed during the 12-month period commencing on of the years indicated below:

Period	Redemption Price
19 Jun 2022	103.625%
19 Jun 2023 and thereafter	101.813%

Make Whole Call

At any time and from time to time prior to [TBD], the Issuer may at its option redeem the Notes, in whole or in part, at a redemption price equal to 100% of the principal amount of the Notes redeemed plus the Applicable Premium as of, and accrued and unpaid interest, if any, to (but not including), the redemption date. Neither the Trustee nor any of the Agents will be responsible for calculating or verifying the Applicable Premium.

"Applicable Premium" means with respect to a Note at any redemption date, the greater of (i) 1.00% of the principal amount of such Note and (ii) the excess of (A) the present value at such redemption date of (1) the redemption price of such Note on (such redemption price being described in "Optional Redemption" exclusive of any accrued interest) plus (2) all required remaining scheduled interest payments due on such Note through (but excluding accrued and unpaid interest to the redemption date), computed using a discount rate equal to the Adjusted Treasury Rate plus 50 basis points, over (B) the principal amount of such Note.

Change Control Put

Not later than 30 days following a Change of Control Triggering Event, the Issuer or the Guarantor will make an Offer to Purchase all outstanding Notes (a "Change of Control Offer") at a purchase price equal to 101% of the principal amount thereof plus accrued and unpaid interest, if any, and Additional Amounts, if any, to (but not including) the Offer to Purchase Payment Date.

"Change of Control" means the occurrence of one or more of the following events:

(a) the direct or indirect sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of all or substantially all of the properties or assets of the Guarantor and the Restricted Subsidiaries, taken as a whole, in each case, to any "person" (within the meaning of Section 13(d) and 14(d) of the Exchange Act) other than a Permitted Holder;

(b) LMIRT consolidates with, or merges with or into, any Person, or any Person consolidates with, or merges with or into, LMIRT, in any such event pursuant to a transaction in which any of the outstanding Voting Stock of LMIRT or such other Person is converted into or exchanged for cash, securities or other property, other than any such transaction where the Voting Stock of LMIRT outstanding immediately prior to such transaction is converted into or exchanged for (or continues as) Voting Stock (other than Disqualified Stock) of the surviving or transferee Person constituting a majority of the outstanding shares of Voting Stock of such surviving or transferee Person (immediately after giving effect to such issuance) and in substantially the same proportion as before the transaction;

(c) LMIRT Management Ltd. (in its capacity as manager of LMIRT) while it is the manager of LMIRT ceases to be controlled, directly or indirectly, by a Permitted Holder;

(d) LMIRT Management Ltd. ceases to be the manager of LMIRT and the new manager of LMIRT is controlled by any Person other than a Permitted Holder;

(e) individuals who on the Original Issue Date constituted the Board of Directors (together with any new directors whose election by the Board of Directors was approved by a vote of at least 66% of the members of the Board of Directors then in office who were members of the Board of Directors on the Original Issue Date or whose election was previously so approved) cease for any reason to constitute a majority of the members of the Board of Directors then in office; or

(f) the adoption of a plan relating to the liquidation or dissolution of LMIRT.

"Change of Control Triggering Event" means the occurrence of both a Change of Control and Ratings Decline.

Equity Call

At any time and from time to time prior to [TBD], the Issuer may redeem up to 35% of the aggregate principal amount of the Notes with the Net Cash Proceeds of one or more sales of Common Stock of LMIRT in Equity Offerings at a redemption price of [TBD]% of the principal amount of the Notes redeemed, plus accrued and unpaid interest, if any, and Additional Amounts thereon, if any, to (but not including) the redemption date; provided that at least 65% of the aggregate principal amount of the Notes originally issued on the Original Issue Date remains outstanding after each such redemption and any such redemption takes place within 60 days after the closing of the related Equity Offering. Notice of any redemption upon any Equity Offering may be given prior to the completion of such Equity Offering, and any such redemption or notice may, at the Issuer's discretion, be conditioned on the completion of the related Equity Offering.

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