JAKARTA – PT Bursa Efek Indonesia (BEI) temporarily terminates any stock trading transactions of PT Garuda Indonesia (Persero) Tbk (GIAA) following the delayed coupon payment of its Global Sukuk of USD 500 million maturing on June 3, 2021.
Vera Florida, the Head of Corporate Evaluation Division 2 of BEI, reveals that the postponed coupon disbursement indicates a problem in Garuda Indonesia’s business activities. “The exchange temporarily halts the trading of GIAA’s stock across all markets starting the first session of exchange trading on June 18, 2021, until the further announcement,” Florida confirms.
GIAA announces that they would adjourn the Sukuk coupon payment of a USD 500 million trust certificate Garuda Indonesia Global Sukuk Limited maturing on June 3, 2021. The postponement is still active, although this state-owned airline company has used up its grace period of 14 days until June 17, 2021. (LK/ZH)