Garuda Indonesia Global Sukuk Limited
Order book of US$1.9bn.
By geography, 56% of the deal was allocated to the Middle East, followed by 32% to Asia and the remaining 12% to investors in Europe. By investor type, banks / agencies took the bulk of the offering at 52% while private banks / corporates and fund managers were allocated 29% and 19% respectively.
Garuda's Sukuk offering was done without any government or financial institution guarantee, making it the first Asia Pacific national flag carrier to successfully issue a USD benchmark bond on a standalone basis since Qantas Airways' USD bond offering in April 2006.