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
103
29. SUBORDINATED LOANS continued
b. By Type:
December 31, April 30, December 31,
2003 2003
2002
Two-Step Loans TSLs a
Nordic Investment Bank NIB 359,021
381,282 399,035
b Export-Import Bank of Japan EBJ
152,728 188,214
224,144 c
Asian Development Bank ADB 25,573
33,022 40,471
d International Bank for Reconstruction
and Development IBRD 37,508
46,577 54,888
e ASEAN Japan Development Fund Overseas
Economic Cooperation Fund AJDF-OECF 118,439
124,673 130,907
f ASEAN Japan Development Fund -Export-Import
Bank of Japan AJDF-EBJ 6,185
7,310 7,310
g Kreditanstalt fur Wiederaufbau, Frankfurt KfW
92,674 91,614
88,860 792,128
872,692 945,615
Bank Indonesia 930,859
1,416,859 1,578,859
Investment Fund Account RDI ex-Two-Step Loans 277,252 415,878
554,504 Others
3,118,245 3,195,648
3,279,987 5,118,484
5,901,077 6,358,965
Two-Step Loans a Nordic Investment Bank NIB
This account represents a credit facility obtained from NIB through the Government of the Republic of Indonesia, via the Ministry of Finance of the Republic of Indonesia, which re-lent the
proceeds to participating banks to finance projects in Indonesia. The details of these facilities are as follows:
Credit Facility Purpose
Repayment Period Nordic Investment Bank II
Nordic Investment Bank III
Nordic Investment Bank IV
To promote and finance high priority investments in Indonesia, primarily in the
private sector, or joint Indonesian and Nordic interests.
To promote and finance high priority investments in Indonesia, primarily in the
private sector, or joint Indonesian and Nordic interests.
To promote and finance high priority investments in Indonesia, primarily in the
private sector, or joint Indonesian and Nordic interests.
December 10, 1990 - July 15, 2005 with the 1
st
installment on January 15, 1996.
August 4, 1993 - August 15, 2008 with the 1
st
installment on February 15, 1999.
April 15, 1997 - February 28, 2017 with the 1
st
installment on August 31, 2002.
Details of outstanding credit facilities from Nordic Investment Bank are as follows:
December 31, April 30,
December 31, 2003
2003 2002
a Nordic Investment Bank II NIB II
14,759
18,448 22,138
b Nordic Investment Bank III NIB III
56,650
64,566 67,980
c Nordic Investment Bank IV NIB IV
287,612
298,268 308,917
359,021
381,282 399,035
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
104
29. SUBORDINATED LOANS continued
Two-Step Loans continued The interest rate on the NIB II facility is based on the past six months’ average interest rate for
three-month Certificates of Bank Indonesia which should: • Not be higher than the average interest rate for three-month time deposits for the past six
months in the five state-owned banks. • Not be lower than the interbank interest rate to the Government of the Republic of Indonesia
plus 1.75. The interest rate on the NIB III facility is based on the previous six months’ variable interest rate as
determined by Bank Indonesia based on the prevailing average interest rates for the past six months for three-month Certificates of Bank Indonesia.
The interest rate on the NIB IV facility is based on the previous six months’ variable interest rate as determined by Bank Indonesia based on the prevailing average interest rates for the past six
months for three-month Certificates of Bank Indonesia.
b Export-Import Bank of Japan EBJ This account represents credit facilities obtained from the Export-Import Bank of Japan through
the Government of the Republic of Indonesia, via the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance projects in Indonesia. The
details of these facilities are as follows:
Credit Facility Purpose
Repayment Period EBJ-TSL I
To finance private sector projects included in Priority Scale List from or
approved by the Investment Coordinating Board.
July 7, 1988 - January 15, 2005 with the 1
st
installment on July 15, 1992. EBJ-TSL II
To finance private and state-owned company projects in sectors prioritized
by the Government and export- oriented.
October 14, 1989 - October 1, 2004 with the 1
st
installment on April 1, 1993. EBJ-TSL III
To finance private and state-owned company projects in sectors prioritized
by the Government and export- oriented.
January 21, 1991 - July 15, 2005 with the 1
st
installment on January 15, 1994. EBJ-TSL IV
To finance projects which help to increase investments in the private
sector and which are export-oriented. January 28, 1992 - January 15, 2007
with the 1
st
installment on July 15, 1995. EBJ-TSL
V To finance small-scale industry,
primarily the manufacturing sector and export-oriented.
May 27, 1992 - March 15, 2003 with the 1
st
installment on September 15, 1994.
