How IPO, Garuda debt restructuring should be completed

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Ministry of State owned PT Garuda Indonesia to encourage the restructuring of debt in 2009 before the semester so that I can record of shares (IPO) on the stock exchange.

"Restructuring debt key requirements that must be dituntaskan first before IPO," said Secretary of the Ministry of BUMN, Said Didu, in Jakarta, Sunday (12 / 4).

Said explains, Garuda debt restructuring to be main issues to be completed in line with the corporation retrukturisasi. He does not break down total liabilities Garuda well as to the local Bank Mandiri, Angkasa Pura I, II, and foreign debt to the European Credit Agency (ECA), and loans from Singapore.

According to the notes, among other debts Garuda Mandiri to about 100 million U.S. dollars, while the remaining obligations to the ECA around 400 million U.S. dollars.

Said Didu optimistic Garuda debt restructuring can dituntaskan in accordance with the agreement with the creditors.

He argues, debt settlement company can make the value to be higher when the stock market entry. "Mechanism of payment of debt covered almost every weekend. The company must be up first and then IPO," he said.

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