Indonesian State Enterprises Ministry invites Capital Group to invest in Garuda Indonesia
Indonesian State Enterprises Ministry invited Capital Group to invest in Garuda Indonesia when it launches its IPO in 3Q2010 (Reuters, 15-Apr-2010). Garuda plans to raise up to USD400 million through the offering to fund aircraft orders and refinance debt. The carrier also reportedly plans to sign an official agreement with the European Credit Agency by the end of this month to extend maturity of its loans by up to seven years. Garuda owes ECA approximately USD241.2 million.