Embattled Lippo Mall Indonesia Retail Trust (LMIRT) has been thrown a lifeline. On Dec 11, LMIRT’s manager announced that it has obtained a IDR2.5 trillion (the equivalent of $215.72 million) amortising term loan for six years, subject to certain conditions including a consent solicitation exercise.

The new loan will be used to finance the repurchase of the outstanding 7.25% senior notes due in 2024, and the 7.5% senior notes maturing in 2026; and the consent fee.