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Published on 3/27/2023 in the Prospect News Distressed Debt Daily and Prospect News Emerging Markets Daily.

New Issue: Garuda Indonesia prices notes, sukuk trust certificates due 2031

By Mary-Katherine Stinson

Lexington, Ky., March 27 – Garuda Indonesia (Persero) Tbk. and Garuda Indonesia Global Sukuk Ltd. issued notes due 2031 and sukuk trust certificates due 2031 as part of its debt restructuring, according to listing notices.

The $624,211,705 of 6½% notes due Dec. 28, 2031 were issued Dec. 28.

The Regulation S notes will be listed on the Singapore Exchange effective March 28.

The $78,019,580 sukuk trust certificates due Dec. 29, 2031 were issued Dec. 29 and will be listed on the Singapore Exchange effective March 28.

The issuer is an airline based in Tangerang, Indonesia.

Notes

Issuer:Garuda Indonesia (Persero) Tbk.
Amount:$624,211,705
Issue:Notes
Maturity:Dec. 28, 2031
Coupon:6½%
Settlement date:Dec. 28
Listing date:March 28
Distribution:Regulation S
ISIN:XS2568752682, XS2568753060
Sukuk
Issuer:Garuda Indonesia Global Sukuk Ltd.
Amount:$78,019,580
Issue:Sukuk trust certificates
Maturity:Dec. 29, 2031
Coupon:6½%
Settlement date:Dec. 29
Listing date:March 28
ISIN:XS2572292626

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