For more than two decades of services, Mandiri Sekuritas has provided comprehensive capital market and financial investment solutions including Underwriting, Advisory and Brokerage for institutional clients and individual (retail) customers.

Through its Investment Banking Advisory and Capital Market services, Mandiri Sekuritas assists companies in accelerating sustainable business growth through various innovative financial solutions, including restructuring to rights issue.

In 2022, Mandiri Sekuritas acted as Lead Advisor to PT Garuda Indonesia (Persero) Tbk (GIAA) in the process of restructuring their business performance, one of which was by issuing New Debt Notes with an initial current amount of US$624 million and New Sukuk of US $78 million as of 28 and 29 December 2022. Both have tenors due in nine years since the issued date.

The New Sukuk was issued as part of the follow-up to restructuring the US$500 million Global Sukuk, while the New Bonds were issued as part of a restructuring scheme for creditors.

In addition, Mandiri Sekuritas also supports the process of fulfilling other strategic steps by Garuda, including receiving IDR 7.5 trillion in State Equity Participation (PMN) funds, issuing new shares or rights issue by providing Pre-emptive Rights (HMETD) worth IDR 7.79 trillion, and Capital Increase Without Pre-emptive Rights (PMTHMETD) in the context of debt conversion worth IDR 5.05 trillion.

Minister of State-Owned Enterprises (BUMN) Erick Thohir said, “May Garuda fly high again, this time with sustainability and profitability. This is the biggest restructuring in Indonesian corporate history.”