BUSINESSWEEK ONLINE : FEBRUARY 1, 1999 ISSUE
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INTERNATIONAL -- ASIAN BUSINESS Debt Deals, Indonesian Style THE PLAYERS Indonesia's top companies, including Lippo Group, Bakrie & Brothers, and Astra International. THE STAKES At least $11 billion in debt owed to major Japanese, U.S., and European banks, as well as billions in bad loans held by Indonesian banks. THE RULES Few, since normal bankruptcy procedures are nonexistent. Most companies are looking for debt deferrals and offering equity stakes for debt forgiveness. THE SCORE Astra, Bakrie, and Lippo all have agreements in principle to reschedule, swap debt for equity, or recapitalize. DATA: BUSINESS WEEK _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _					Return to main story INTERACT E-Mail to Business Week Online

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