The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

Garuda Indonesia to seek 3-year maturity extension for US$500m sukuk

Published Wed, May 20, 2020 · 02:06 AM
Share this article.

[JAKARTA] Airline PT Garuda Indonesia is preparing to propose a 3-year maturity extension to its US$500 million Islamic bonds that are coming due on June 3, the company said in a statement late on Tuesday.

Garuda said it has submitted the proposal to Indonesia's Financial Services Authority, as well to bondholders through the Indonesia and Singapore stock exchanges, and the company will seek holders' approval on June 10.

Garuda is struggling to repay its debt as the coronavirus outbreak disrupts air travels globally.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Transport & Logistics

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here