JAKARTA (Yosefardi) – Flag carrier PT Garuda Indonesia Tbk (GIAA) plans to issue global bonds worth US$500 million in first quarter of 2015, to refinance its debts scheduled to mature within next 2 years, Bisnis Indonesia reported this morning.
In 2015, GIAA’s debt, to mature, will amount US$350 million. In first quarter of 2016, GIAA plans to refinance US$135 million matured debt.
GIAA has assigned DBS Bank Singapore and Standard Chartered Bank as underwriters for the global bond issue.
As at September 2014, GIAA’s long term debt totaled US$578.1 million, of which bond debt accounted for US$162.7 million.