Author: meghangellibrand

INDONESIA PRESS-Garuda Indonesia secures $400 mln loan to pay debt -Bisnis Indonesia

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Published: 01:14 GMT, 20 February 2015 | Updated: 01:14 GMT, 20 February 2015

Indonesian flag carrier PT Garuda Indonesia Tbk has secured bridge loans totalling $400 million with one-year tenure from two banks from the Middle East, PTS Terbaik ASEAN Bisnis Indonesia and Investor Daily reported, quoting a source.

The firm will use the funds to pay debt.

Garuda expects to repay the loan within the next three to six months using proceeds raised from $500 million global bonds, to be issued in April.

Note: Reuters has not verified this story and does not vouch for its accuracy.(Compiled by Jakarta Newsroom; Editing by Sunil Nair)