REPUBLIKA.CO.ID, JAKARTA - PT Garuda Indonesia plans to seek 300 million USD loan for 2013 working capital and pre-delivery payment (PDP) for plane. The loan would be realized next year, Garuda's Financial Director, Handrito Harjono, said on Wednesday. The fund may come from financial institution or the issuance of IDR bonds.
"If it is bond then it will be issued in the first semester of 2013," he said.
The fund needed for PDP due to next year, he said, was 350 million USD. But, Garuda will also get PDP. "So, we need 200 million USD for PDP and 100 million USD for working capital," he said.
He admitted that Garuda had negotiated with several banks such as Citibank to get 200 million USD loan. Currently, Garuda's debt is around 300 million USD and the payment term in 2015.