Garuda delays fundraising for debt repayment
Garuda Indonesia has delayed plans to raise up to $900m in funds meant for refinancing its debt. In an Indonesia Stock Exchange disclosure dated 31 December 2019, it attributes the delay to the likelihood that the year’s financial results will not be ready for an extraordinary general meeting (EGM) scheduled for 22 January. The carrier’s fiscal year runs from 1 January to 31 December. Commenting on the delay in its financing plans, Garuda states that “the company is studying alternative funding options to ensure that it can realise its goals of refinancing debt that is due within one year, while also complying with applicable regulations”. It is unclear if a new agenda will be proposed at the EGM of if the meeting will be postponed.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2020-01-07/sky/garuda-delays-fundraising-for-debt-repayment
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Garuda delays fundraising for debt repayment
Garuda Indonesia has delayed plans to raise up to $900m in funds meant for refinancing its debt. In an Indonesia Stock Exchange disclosure dated 31 December 2019, it attributes the delay to the likelihood that the year’s financial results will not be ready for an extraordinary general meeting (EGM) scheduled for 22 January. The carrier’s fiscal year runs from 1 January to 31 December. Commenting on the delay in its financing plans, Garuda states that “the company is studying alternative funding options to ensure that it can realise its goals of refinancing debt that is due within one year, while also complying with applicable regulations”. It is unclear if a new agenda will be proposed at the EGM of if the meeting will be postponed.<br/>
