Bali Discovery Tours: Homepage
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Home Bali Contact Bali Practicalities Bali News Bali Services Bali Transportation Bali Sports Bali Excursions Bali Villas Bali Hotels
Home · News · Mandiri Bank to Get its Slice of Garuda
Bali Hotels, Bali Villas and Bali News from balidiscovery.com
Bali Hotels
Bali Villas
Special Deals!
Packages
MICE Handling
Bali Excursions
Culinary - Dining
Guided Tour
Bali Spas
Bali Sports
Diving
Golf
Bali Transportation
Car Rental - Selft Drive
Private Jet Charter
Bali News
Bali Services
Bali Practicalities
Bali Contact
Bali Career
Home
 
Bali Update
Subscribe to our free weekly newsletter!
 
PATA header
PATA Gold Award 2007
Bali Update
PATA Gold Award Winner 2007
 
Bali Contact
Bali Discovery Tours
Komplek Pertokoan
Sanur Raya No. 27
Jl. By Pass Ngurah Rai,
Sanur, Bali, Indonesia

Tel:
++62 361 286 283

Fax:
++62 361 286 284

U.S.A. Fax:(toll free)
1-800-506-8633

U.K. Fax:
++44-20-7000-1235

Australian Fax:
++61-2-94750419

24h:
++62 812 3819724

Bali Discovery

SITE PATA ASITA
Bali News

Mandiri Bank to Get its Slice of Garuda

Debt for Equity Swap will Remove US$103 Million in Debt from Garuda's Books.


Bali News: Bank Mandriri, Garuda Indonesia, Debt for Equity Swap, IPO.
Click Image to Enlarge

(9/28/2009)

Bank Mandiri will soon convert it US$103 million outstanding debt owed by Garuda Indonesia into an 11% share in the national carrier.

As reported by Bisnis Indonesia, the decision to liquidate the bank's debt was arrived at after extended negotiations between the bank and the carrier.

Once the outstanding debt of the airline is converted into an equity share Bank Mandiri will be issued 11% of the airlines stock when the national carrier's initial public offering (IPO) takes place in 2010.

Negotiations between the airline and the bank on how to handle the US$103 million in debt have consumed the past 8 years.

Assuming the debt restructurization with Bank Mandiri is successful, Garuda will still have an outstanding long-term debt of US$370 million due to its European creditors.

Garuda's financial fortunes are on the upswing, recording a profit of Rp. 60 billion (US$600,000) in 2007; Rp. 669 billion (US$6.69 million) in 2008; and Rp, 612 billion (US$6.12 million) through the end of June 2009. The airline is targeting revenues of Rp. 22.31 trillion (22.31 billion) for all of 2009, an increase of 15% compared to the previous year. If current trends continue, Garuda should yield a profit of Rp. 3.7 trillion (US$3.7 billion) in 2014.

Garuda hopes to net US$400 million via an IPO of 44% of its shares to the marketplace in 2010.


© Bali Discovery Tours. Articles may be quoted and reproduced if attributed to http://www.balidiscovery.com.

       

 
 
Bali News by Bali Update
Subscribe to the Bali Update
Receive the latest news from Bali by email!



Our [Privacy Statement] explains how we handle the data you are providing.

 
Bali News by Bali Update
Explore the Archive of the Bali Update
Find related articles in our news archive!




or try to use Google Search :

Home · Bali Hotels · Bali Villas · Bali Excursions · Bali Sports · Bali News · Site Map · RSS

Bali News: More News
Dietzsch to Enrich Dining in Westin Nusa Dua
German Alex Dietzsch to Head Food and Beverage at The Westin Resort Nusa Dua
(1/25/2015)
Higher Level of Consumer Protection Needed
Indonesia Consumer Protection Foundation Says Strong Sanctions Needed for Errant Airlines
(1/25/2015)
Revolusi Mental: Drivers Licenses in Bali
Revolusi Mental: A Small Change in Driver License Rules Would Make a Big Difference in the Daily Life of Many Bali Visitors
(1/25/2015)
Paris Comes to Bali
Paris Hilton Tweets her Arrival Details to Bali
(1/25/2015)
2014: The Year that Was
Bali by the Numbers: Bali Ends 2014 with Record High 3.76 million Foreign Visitors
(1/25/2015)
The Sky Knows No Limit
Employees Accuse Sky Garden in Kuta of Tax Manipulation
(1/25/2015)
Best if Not Shot in Bali
Bali Governor Says He Prefers Execution of Bali Nine Members be Done Outside of Bali
(1/25/2015)
Seeking 20 Million Tourist Visitors
Government Must Keep its Promise to Increase Tourism Promotional Budget to US$100 million
(1/24/2015)
Home Alone
87-year-old German Woman Margaretta Falkenberg Dies at Villa in Tabanan, Bali
(1/24/2015)
Keeping Landings Happy
Surabaya Emergency Runway Repairs Cause Flight Diversions to Bali
(1/24/2015)
Bali to Regulate Hotel Tariffs
Governor Proposes Price Regulation of Bali Hotels to End Room Rate War
(1/24/2015)
English as the Key to Success
Bali Governor Wants All Senior Provincial Employees to be English Proficient.
(1/24/2015)
All [News]!