PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2012 AND FOR THE YEAR THEN ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2011 AND FOR THE YEAR THEN ENDED AND AS OF JANUARY 1, 2011
Figures in tables are presented in billions of Rupiah, unless otherwise stated
57
17. CURRENT MATURITIES OF LONG-TERM LIABILITIES continued
b. Long-term portion Scheduled principal payments as of December 31, 2012 are as follows:
Year Notes
Total 2014 2015 2016 2017 Thereafter
Bank loans 20
6,783 3,480 2,337
548 328
90 Bonds and notes
19 3,229
192 1,042 -
- 1,995 Two-step loans
18 1,791
198 201
204 205
983 Obligations under finance leases 10
1,814 396
270 246
227 675
Total 13,617
4,266 3,850 998
760 3,743
18. TWO-STEP LOANS
Two-step loans are unsecured loans obtained by the Government which are then re-loaned to the Company. The loans entered into up to July 1994 were recorded and payable in Rupiah based on the
exchange rate at the date of drawdown. Loans entered into after July 1994 are payable in their original currencies and any resulting foreign exchange gain or loss is borne by the Company.
2012 2011
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency in millions
equivalent in millions equivalent
Overseas banks Yen
9,215 1,031
9,983 1,167
Rp -
574 -
717 US
40 382
44 400
Total 1,987
2,284 Current maturities Note 17a
196 272
Long-term portion Note 17b 1,791
2,012 Interest
Interest Payment
payment rate
Lenders Currency schedule
period per annum
Overseas banks US
Semi-annually Semi-annually 4.00
Rp Semi-annually Semi-annually
6.79 Yen
Semi-annually Semi-annually 3.10
The loans are intended for the development of telecommunications infrastructure and supporting telecommunication equipment. The loans are payable in semi-annual installments and are due on
various dates through 2024.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF DECEMBER 31, 2012 AND FOR THE YEAR THEN ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2011 AND FOR THE YEAR THEN ENDED AND AS OF JANUARY 1, 2011
Figures in tables are presented in billions of Rupiah, unless otherwise stated
58
18. TWO-STEP LOANS continued
Since 2008, the Company has used all facilities under the two-step loans program and the drawdown period for the two-step loans has expired.
The Company is required to maintain financial ratios as follows: a. Projected net revenue to projected debt service ratio should exceed 1.2:1 for the two-step loans
originating from Asian Development Bank “ADB”. b. Internal financing earnings before depreciation and finance costs should exceed 20 compared
to annual average capital expenditures for loans originating from ADB. As of December 31, 2012, the Company complied with the above mentioned ratios.
Refer to Note 37 for details of related party transactions. 19. BONDS AND NOTES
2012 2011
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Bonds and notes Currency in millions
equivalent in millions equivalent
Bonds Series A
Rp -
1,005 -
1,005 Series B
Rp -
1,995 -
1,995 Medium Term Notes “MTN”
PT Finnet Indonesia “Finnet” Rp
- 8
- 18
Metra Rp
- -
59 Sigma
Rp -
- 30
Promissory Notes PT Huawei
US 46
445 60
545 PT ZTE Indonesia “ZTE”
US 22
216 15
134 Total
3,669 3,786
Current maturities Note 17a 440
385
Long-term portion Note 17b 3,229
3,401
a. Bonds
Interest Interest Listed
Issuance Maturity payment
rate Bonds
Principal Issuer
on date
date period per annum
Series A 1,005 The Company
IDX June 25, 2010 July 6, 2015 Quarterly
9.60 Series B
1,995 The Company IDX June 25, 2010 July 6, 2020
Quarterly 10.20
Total 3,000
The bonds are secured by all of the Company’s assets, movable or non-movable, either existing or in the future Note 10d.x. The underwriters of the bonds are Bahana, PT Danareksa Sekuritas
and PT Mandiri Sekuritas and the trustee is PT CIMB Niaga Tbk. The Company received the proceeds of the issuance of bonds on July 6, 2010.
