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20231204_GIAA_Laporan Informasi dan Fakta Material_31545184_lamp1.pdf
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GARUDA INDONESIA ANNOUNCES CORPORATE ACTION PLAN FOR THE REPAYMENT OF PART
OF NOTES & SUKUK WITH TENDER OFFER SCHEME
Jakarta, 4 December 2023 - PT Garuda Indonesia (Persero) Tbk ("Garuda Indonesia" or the
"Company") has announced its corporate action plan to repay part of its notes and sukuk through a
tender offer scheme to notes and sukuk holders who are Garuda Indonesia's creditors in the
Suspension of Debt Payment Obligation (PKPU) process. As announced on 1 December 2023
through the Disclosure of Information in the Singapore Exchange ("SGX") website, the participation
period in the tender offer will last until 15 December 2023, and partial repayment is planned to take
place on 21 December 2023.
In the plan to partially repay the Bonds and Sukuk, Garuda Indonesia has allocated a maximum of
US$ 50,000,000 for the principal value. The amount does not include any outstanding interest
payments or payments of outstanding periodic distribution amounts whose value will be determined
later. The allocation of funds is sourced from the Company's internal cash, in line with the
Company's cash management policy, one of which is prioritized for the settlement of the Company's
obligations to creditors.
President Director of Garuda Indonesia, Irfan Setiaputra revealed that the plan to partially repay the
notes 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 fundamental performance of the Company's operations.
This corporate action is also a representation of the Company's sustainable goodwill in ensuring that
the process of settling obligations to creditors can become more agile and prudent. This partial
repayment has also taken into account the current market volatility including increased interest
rates in the US dollar currency market.
Furthermore, more technical matters related to the partial repayment mechanism can be referred to
in the information disclosure on SGX.
"The corporate steps that we carry out ahead of the close of 2023 also represent the Company's
commitment to continue to move adaptively in optimizing fundamental improvements in operating
performance, by paying close attention to the macroeconomic outlook in order to maintain the
momentum of the Company's performance recovery," Irfan concluded.
PT GARUDA INDONESIA (PERSERO) Tbk
CORPORATE SECRETARY
Media Contact:
corpcomm@garuda-indonesia.com
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