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GARUDA INDONESIA - JAKARTA. PT Garuda Indonesia (Persero) Tbk. (GIAA) announced that it has completed the partial repayment of bonds and sukuk amounting to US$ 50 million or equivalent to IDR 774.75 billion.
Through the disclosure of information from the Indonesia Stock Exchange (IDX), the President Director of Garuda Indonesia, Irfan Setiaputra, stated that the partial repayment of the company's bonds and sukuk was carried out through a tender offer scheme on Friday, December 29, 2023. The source of funds used came from GIAA's internal cash.
"GIAA has completed the partial repayment of bonds and sukuk, as has been published on the Singapore Exchange or SGX website," said Irfan in the IDX information disclosure, on Wednesday, (1/3).
Furthermore, Irfan explained that GIAA not only made the principal repayment, but also made other payments such as accrued interest, deferred payment in kind, and tax expenses amounting to US$ 2.32 million.
Therefore, the remaining principal amount of GIAA's bonds and sukuk is US$ 500 million or equivalent to IDR 7.75 trillion.
He said that this does not directly impact the company's operational activities. GIAA also ensures that all operational activities are running normally.
As reported earlier, the corporate action plan for the partial repayment of bonds and sukuk GIAA was through a tender offer scheme to bondholders who are creditors of Garuda Indonesia in the process of Postponement of Debt Payment Obligations (PKPU).
Irfan revealed that the plan for partial repayment of bonds and sukuk is part of the company's proactive steps to improve equity performance, through active management of assets, liabilities and equity to optimize the effectiveness of the Company's cash flow profile and the fundamentals of the Company's operational performance.
"This corporate action also represents the company's ongoing goodwill in ensuring that the process of fulfilling obligations to creditors can become more agile and prudent,” he said.
According to him, the partial repayment has also taken into account the current market volatility including the increase in interest rates in the US dollar currency market.
