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Lippo Malls Indonesia resets 2016 perpetual coupon at 6.4751%
By William Gullotti
Buffalo, N.Y., Sept. 27 – Lippo Malls Indonesia Retail Trust reset the interest rate on its S$140 million subordinated perpetual securities for the first time, according to a notice on Monday.
The subordinated perpetual securities, issued Sept. 27, 2016 (ISIN: SG74H8000008), underwent a distribution rate reset to 6.4751% from 7% on Sept. 27.
The reset distribution rate was initially set using the five-year Singapore dollar swap offer rate plus a spread of 524.5 basis points. The next reset will take place Sept. 27, 2026.
The securities are now callable on any distribution payment date, as previously reported.
Lippo Malls Indonesia is a Singapore-based real estate investment trust.
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