Garuda Indonesia's shareholders have approved a planned a $750 million global bond issuance.
The approval was granted during its 19 April during a joint annual and extraordinary general meeting, which was required as the issuance represents nearly 80% of its equity.
Earlier statements from the SkyTeam carrier say that it will issue issue bonds with a five-year tenure. Proceeds will be used to refinance short and long-term debt, as well as to fund its operations.
ANZ Bank, Bank of Tokyo Mitsubishi-UFJ, Deutsche Bank, and Standard Chartered have been appointed joint lead managers of the planned transaction.
Separately, Garuda has appointed Triyanto Moeharsono as its operations director, replacing director of production Puji Nur Handayani.
Prior to the appointment, he was the carrier's vice-president of operations planning and control.
Source: Cirium Dashboard