Garuda Indonesia to seek three-year maturity extension for $500m Islamic bonds

Garuda Indonesia to seek three-year maturity extension for $500m Islamic bonds

Workers clean the body of a Garuda Indonesia Airbus A320 aircraft inside Hangar 4 of PT Garuda Maintenance Facility (GMF) Aero Asia at Soekarno-Hatta airport in Jakarta.

Airline PT Garuda Indonesia is preparing to propose a 3-year maturity extension to its $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 as bondholders through the Indonesia and Singapore stock exchanges, and the company will seek holders’ approval on June 10.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter