JAKARTA – The holders of asset-backed securities (lit. Efek Beragun Aset/EBA) of Mandiri GIAA 01 agreed upon the tenor extension of the Collective Investment Contract (lit. Kontrak Investasi Kolektif/KIK) of EBA Mandiri up to 10 more years and the new payment schedule with a balloon payment scheme. Irfan Setiaputra, President Director of PT Garuda Indonesia (Persero) Tbk (GIAA), announced the news in the press release quoted Wednesday (15/6).
According to Setiaputra, this deal was reached during the General Meeting of the Holders of EBA Mandiri GIAA 01 earlier this week (13/6), collecting 92% vote of the entire KIK holders. Said decision can be seen as a support to GIAA’s business sustenance and an effort to fix and improve all business lines.
“It becomes a positive outlook amidst the thorough restructuring process intensively carried out by the company through the suspension of debt payment obligation process,” Setiaputra added.
As is known, KIK EBA Mandiri GIAA 01 was issued in 2018. GIAA securitisation of its revenue rights over the sales of Garuda flight tickets of Jeddah-Madinah route to KIK holders worth IDR 2 trillion, with a five-year tenor. (LK/ZH)