Garuda Indonesia sukuk holders agree to 3-year repayment extension
JAKARTA – Garuda Indonesia has received the nod to extend the repayment period for its sukuk by three years.
Repayment of the $496.8 million global sukuk issued in 2015 was due on June 3, and Garuda would have been in a default situation if repayment, or a new agreement, did not kick in by June 10.
In a virtual meeting on Wednesday (June 10), 90.88% of investors in the sukuk, holding $454,391,000 of the principal amount, voted for the extension.
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