03.05.2013 - Garuda issues $630mln worth of Shariah bonds
PT Garuda Indonesia's debut $630-million Islamic loan, which follows sukuk by Emirates Airlines and Malaysian Airline System Bhd., is a test that may pave the way for more Shariah funding, the carrier's chief executive said. The state-owned company announced an agreement last week with Kuwait's Aviation Lease and Finance Company KSCC, which will finance two Boeing 777-300 Extended Range aircraft, CEO Emirsyah Satar said in an April 26 interview from Jakarta. Pricing for the 12-year facility was "competitive" and it will help Garuda gain access to a wider pool of investors, he said, adding that it may consider issuing sukuk in the future...............................................Full Article: Source
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