Garuda Indonesia signs a US$400-million bridge loan

Garuda Indonesia, the national airline of Indonesia, has signed a US$ 400-million bridge financing facility agreement with two financial institutions, the National Bank of Abu Dhabi and Dubai Islamic Bank, on February 18, 2015. The facility is intended to bridge financing Garuda’s fund raising plan in 2015, while waiting for the market to build strong momentum for Garuda to utilize and issue a US$ 500-million Global Sukuk as the take-out solution. The agreement was signed by EVP Finance and Risk Management of Garuda Indonesia I Gusti Ngurah Askhara Danadiputra, Senior Vice President Business Head DCM & Syndication, Structured Finance, and