PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated
92
25. FUND BORROWINGS continued
The Bank has no fund borrowings from related parties.
a Bank Indonesia
This account represents credit liquidity facility obtained from Bank Indonesia BI, which are re- loaned to Bank Mandiri customers under Government Credit Program. The management and
monitoring of the credit facility were performed by PT Permodalan Nasional Madani Persero, a state owned company, based on Law No. 231999 dated May 1999 regarding BI, BI Regulation
No. 23PBI2000 dated February 1, 2000 and BI Regulation No. 520PBI2003 dated September 2003 regarding the Hand-over of Management of Credit Liquidity of Bank Indonesia Under Credit
Program. This facility is subject to interest at rates ranging from 3 to 10 per annum and will mature on various dates through 2017. The details of this account are as follows:
December 31, April 30, December 31,
2003 2003
2002
Rupiah: Investment Loans KI
303,917 444,770
510,814 Small-Scale Working Capital Loans KUK - KKPA
514,679 525,871
530,445 Small-Scale Investment Loans KIK
380,846 407,753
423,031 Working Capital Loans KMK
50 50
50
1,199,492 1,378,444
1,464,340
b Bank Ekspor Indonesia This account represents credit facilities for export working capital obtained from Bank Ekspor
Indonesia based on the facility agreement No. 064PPF122000 dated December 12, 2000 between PT Bank Ekspor Indonesia Persero and PT Bank Mandiri Persero. The agreement is
for the period from December 20, 2000 until December 19, 2001, and was extended to December 17, 2004. The facilities were re-loaned to direct and indirect exporter customers of
Bank Mandiri and bear interest at market rates.
c Exchange Offer Loans In accordance with the Government’s debt restructuring program for banks, Bank Mandiri
exchanged certain non-Rupiah denominated obligations obtained from foreign banks for new borrowings with extended maturities, and guaranteed by Bank Indonesia pursuant to the
exchange offer memorandum in the Master Loan Agreement as follows:
December 31, April 30,
2003 2003
US Rp US Rp
in full amount Equivalent
in full amount Equivalent
Exchange Offer Loan II 517,802,500 4,362,486
928,290,000 8,053,380
517,802,500 4,362,486
928,290,000 8,053,380
December 31, 2002
US Rp
in full amount Equivalent
Exchange Offer Loan II 928,290,000
8,308,195 928,290,000
8,308,195
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2003, April 30, 2003 and December 31, 2002 Expressed in millions of Rupiah, unless otherwise stated
93
25. FUND BORROWINGS continued
c Exchange Offer Loans continued Exchange Offer Loan II with original maturities before January 1, 2002 will mature in four 4
tranches every June 1 from 2002 to 2005. These borrowings bear interest calculated every six months equal to six months LIBOR for the periods plus an applicable margin determined for each
maturity period. In November 2003, the Bank has partially settled the Exchange Offer Loan II at the nominal
value amounting to US49,152,500 full amount before the due date.
d PT Permodalan Nasional Madani Persero This account represents credit facilities obtained from PT Permodalan Nasional Madani
Persero, which borrowings were re-loaned by Bank Mandiri’s to the members of the Primary Cooperative Kredit Koperasi Primer kepada Anggotanya KKPA. These facilities are subject to
interest at 9 per annum. The loan terms and installment payments schedule reflect the terms of the individual loan agreements.
e Others - Rupiah
December 31, April 30, December 31,
2003 2003
2002
Bank Panin, Jakarta 100,000
- -
Bank Niaga, Jakarta 50,000
- -
150,000 -
-
f Others - Foreign Currency
December 31, April 30, December 31,
2003 2003
2002
Direct off-shore loans 252,750
260,265 268,500
Others 5,968 182,663
10,776 258,718 442,928 279,276
