PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
55
22. NOTES AND BONDS continued
b. Medium-term Notes the “Notes” On December 13, 2004, the Company entered into an agreement with PT ABN AMRO Asia
Securities Indonesia, PT Bahana Securities, PT BNI Securities and PT Mandiri Sekuritas collectively referred as “Initial Purchasers” to issue Notes for a total principal amount of
Rp.1,125,000 million. Proceeds from issuance of the Notes were used to finance the payment of the remaining balance of the borrowings assumed in connection with the TII acquisition
amounting to US123.0 million.
The Notes consist of four Series with the following maturities and interest rates:
Series Principal
Maturity Interest rate
A 290,000
June 15, 2005 7.70
B 225,000 December 15, 2005
7.95 C
145,000 June 15, 2006
8.20 D
465,000 June 15, 2007
9.40
Total 1,125,000
Interest on the Notes is payable semi-annually beginning June 15, 2005 through June 15, 2007. The Notes were unsecured and at all times ranked pari passu with other unsecured debts of the
Company. The Company may, at any time, before the maturity dates of the Notes, repurchase the Notes in whole or in part.
On June 15, 2005, December 15, 2005, June 15, 2006 and June 15, 2007, the Company repaid the Series A, Series B, Series C, and series D Notes, respectively.
23. BANK LOANS
The details of long-term bank loans as of September 30, 2007 and 2008 are as follows:
2007 2008
2008 Outstanding
Outstanding Original
Original Total facility currency
Rupiah currency
Rupiah Lenders
Currency in millions in millions equivalent in millions equivalent
The Export-Import Bank of Korea US
124 94.1
860,610 71
665,560 Bank Mandiri
Rp. 2,400,000
- 1,270,000
- 1,210,000
BCA Rp.
2,423,000 -
950,000 -
1,450,000 Citibank
US 113
27.4 250,687
4 37,970
Euro 73
14.6 189,840
- -
Rp. 1,000,000
- 300,000
- 600,000
BNI Rp.
3,550,000 -
680,000 -
2,960,000 Bank Lippo
Rp. 18,500
- 12,881
- 5,520
Bank Niaga Rp.
39,300 -
24,140 -
28,064 Bank Bukopin
Rp. 5,300
- 3,486
- 2,409
BRI Rp.
3,400,000 -
400,000 -
3,240,000 Bank Ekonomi
Rp. 60,000
- -
- 54,362
Bank Syndication Rp.
2,400,000 -
- -
1,000,000 Total
4,941,644 11,253,885
Current maturities of bank loans Note 20a
2,549,849 4,814,589
Long-term portion Note 20b 2,391,795
6,439,296
Refer to Note 44 for details of related party transactions.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued SEPTEMBER 30, 2007 AND 2008,
AND NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2007 AND 2008 Figures in tables are presented in millions of Rupiah, unless otherwise stated
56
23. BANK LOANS continued
a. The Export-Import Bank of Korea On August 27, 2003, the Company entered into a loan agreement with The Export-Import Bank of
Korea for a loan facility of US124 million, to finance the CDMA procurement from the Samsung Consortium. The facility bears interest, commitment and other fees totaling 5.68 per annum.
The loan is unsecured and payable in 10 semi-annual installments on June 30 and December 30 of each year beginning in December 2006. The principal outstanding as of September 30, 2007
and 2008 amounted to US94.1 million equivalent to Rp.860,610 million and US71 million equivalent to Rp.665,560 million, respectively.
b. Bank Mandiri i On March 20, 2006, Telkomsel signed a loan agreement with Bank Mandiri for a facility of
Rp.600,000 million, payable in 5 equal semi-annual installments commencing 6 months after the end of the availability period. The loan bears a floating interest rate of three-month SBI
plus 1.75 per annum 9.79 per annum and 11.65 per annum as of September 30, 2007 and 2008, respectively which becomes due quarterly in arrears and is unsecured. The
principal outstanding as of September 30, 2007 and 2008 amounted to Rp.360,000 million and Rp.120,000 million, respectively.
ii On August 15, 2006, Telkomsel signed a medium-term facility loan agreement with Bank Mandiri for Rp.350,000 million, payable in 5 equal semi-annual installments commencing
6 months after the end of the availability period. The loan bears a floating interest rate of three-month SBI plus 1.5 per annum 9.51 per annum and 11.40 per annum as of
September 30, 2007 and 2008, respectively which becomes due quarterly in arrears and is unsecured. The principal outstanding as of September 30, 2007 and 2008 amounted to
Rp.210,000 million and Rp.70,000 million, respectively.
iii On June 15, 2007, Telkomsel signed a medium-term facility loan agreement with Bank Mandiri of Rp.500,000 million. This facility is payable in 5 equal semi-annual installments
commencing 6 months after the end of the availability period. The loan bears a floating interest rate of three-month JIBOR plus 1,25 per annum 9.40 per annum and 12.41
per annum as of September 30, 2007 and 2008, respectively which becomes due quarterly in arrears and is unsecured. On July 24, 2007, the loan agreement has been amended with
addition of total facilities provided amounted to Rp.200,000 million. The principal outstanding as of September 30, 2007 and 2008 amounted to Rp.700,000 million and Rp.420,000 million,
respectively.
iv On October 24, 2007, Telkomsel signed a medium-term facility loan agreement with Bank Mandiri of Rp.750,000 million. This facility is payable in 5 equal semi-annual
installments commencing 6 months after the end of the availability period. The loan bears a floating interest rate of three-month JIBOR plus 1.17 per annum 10.93 as of
September 30, 2008 which becomes due quarterly in arrears and is unsecured. The principal outstanding as of September 30, 2008 amounted to Rp.600,000 million.
c. BCA i On April 10, 2002, the Company entered into a Term Loan Agreement HP Backbone
Sumatra Project with BCA for a total facility of Rp.173,000 million, to finance the Rupiah portion of the high performance backbone network in Sumatra pursuant to the Partnership
Agreement dated November 30, 2001 with PT Pirelli Cables Indonesia “Pirelli Cables” and PT Siemens Indonesia “Siemens Indonesia”.
