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Garuda Indonesia defers bond distribution for second time, appoints additional advisor
June 18th 2021
Garuda Indonesia said in a regulatory filing to the Indonesia Stock Exchange it would continue to defer the June 3 distribution payment on its US$500 million Sukuk, or Islamic bond, “to ensure the company emerges from the pandemic as a healthy airline". Read More » This was the second delay of the June 3 distribution, following an initial 14-day deferment. “Garuda greatly appreciates the continued support of its Sukuk holders during this challenging time," Garuda CEO, Irfan Setiaputra, said. The Indonesian flag carrier has added Guggenheim Securities as a financial advisor to its consultancies to address the challenges from COVID-19. Its existing advisors are Assegaf Hamzah and Partners, Cleary Gottlieb Steen and Hamilton LLP, and PT Mandiri Sekuritas. "We believe the team of advisors we have assembled is best positioned to support us as we strive to emerge from the pandemic as a strong, well-capitalized airline," Setiaputra said.
