Indonesia’s Garuda appoints advisor as sukuk payments loom
JAKARTA – Indonesia’s national carrier Garuda has appointed U.S.-based advisory-focused investment bank PJT Partners to help it negotiate repayments for the $496.8 million five-year sukuk it issued on June 3, 2015.
The company will also establish a joint discussion team between sukuk holders and PJT Partners, Irfan Setiaputra, Garuda CEO told Salaam Gateway.
“We’ve hired a consultant, PJT Partners to deal with the situation. Usually every time a bond or sukuk due date is approaching, we prepare three options for the holders to consider: repayment with a discount, full repayment or a payment extension,” said Irfan.
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