Garuda Indonesia attains approval to delay $500mn sukuk
Jun 9, 2020, 5:06 pm
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Garuda Indonesia attains approval to delay $500mn sukuk
Garuda Indonesia (GA, Jakarta Soekarno-Hatta) has secured 90% approval to restructure its sukuk bond obligations, a vital step towards improving its financial position as coronavirus-linked travel restrictions continue, local media reported.
Holders representing more than 90% of the value of the USD498.88 million sukuk, or Islamic bonds, approved to delay payment by three years, CEO Irfan Setiaputra told a virtual news conference on June 5. The debt had been due to mature on June 3.
The company will wait until June 10 for all holders to vote, Setiaputra said. Garuda had offered a bonus fee of up to 1.25% to those voting in favour before June 1.
https://www.ch-aviation.com/portal/n...ay-500mn-sukuk
Holders representing more than 90% of the value of the USD498.88 million sukuk, or Islamic bonds, approved to delay payment by three years, CEO Irfan Setiaputra told a virtual news conference on June 5. The debt had been due to mature on June 3.
The company will wait until June 10 for all holders to vote, Setiaputra said. Garuda had offered a bonus fee of up to 1.25% to those voting in favour before June 1.
https://www.ch-aviation.com/portal/n...ay-500mn-sukuk
