Garuda Takes Refuge With BNI
Bareksa • 26 Jun 2014
State lender Bank Negara Indonesia has offered the nation’s flag carrier Garuda Indonesia a hedging solution to its finances (The Jakarta Globe)
BNI hopes more SOEs will consider taking part in hedged transactions this year.
Bareksa.com - Flagship carrier Garuda Indonesia and state lender Bank Negara Indonesia have agreed on a three-year, cross-currency swap worth Rp 500 billion ($42.3 million) in an attempt to shield the airlines’ finances against foreign currency fluctuations.
“Such hedging transactions are urgent, considering the unpredictable nature of global finance that can negatively affect Indonesia’s economy,” said Tribuana Tunggadewi, Bank Negara Indonesia (BNI) corporate secretary, on Wednesday.