Rothschild handle Garuda debt restructuring

Garuda Indonesia has appointed Rothschild a financial advisor to help the companys debt restructuring.
President Director Garuda Emirsyah Satar admitted the company was negotiating with Bank Mandiri. "We are negotiating with Bank Mandiri to find the best solution for Garuda and the creditor," he said.
Garuda had secured a debt restructuring agreement worth US$450 million out of a total debt of US$650 million with their creditors. The company have also reached an agreement on debt payment rollover to 2015.