Garuda Creditors Approve $9.6bn Restructuring Proposal
Garuda Indonesia’s creditors approved $9.6bn in restructuring proposals with a majority vote. More than 95% of creditors who attended the vote last week at the Jakarta court accepted Garuda’s proposal with ~$9.6bn in claims to be settled by agreement. The plan...
Garuda Proposes $800m Bond Issuance to Avoid Bankruptcy
Garuda Indonesia has proposed an $800mn bond issuance in a bid to restructure its debts and avoid bankruptcy. It also said that it would raise $330mn by issuing shares to non-shareholding creditors as part of the proposal. Garuda’s lenders and creditors will...
Garuda Airlines Proposes Extension of Restructuring Again
Garuda Airlines has asked a Jakarta court to extend its deadline to complete its debt-restructuring for the third time. The reason cited was verification of some claims still remaining unfinished, with a 30-day extension being sought. “We are certain that this...
