PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
76
24. SECURITIES ISSUED continued
On October 31, 2003, Bank Syariah Mandiri, a subsidiary, issued five-year Syariah bonds amounting to Rp200,000 which mature on October 31, 2008. The profit sharing on such bonds is payable every 3
months with the first payment being made on January 30, 2004. The profit on sharing will be taken from the margin revenue of Bank Syariah Mandiri obtained from its quarterly murabhahah portfolio.
Bank Mandiri issued Senior Notes amounting to US300,000,000 full amount at 99.482 of nominal value with a coupon of 7.00 per annum, which mature on April 22, 2008. The US300 million MTNs are
hedged with an interest rate swap instrument. On November 10, 2005, Bank Mandiri exercised the call option for its BDN FRNs Eurobond amounting to
US17,000,000 full amount.
25. FUND BORROWINGS
2006 2005
Rupiah: Bank Indonesia a
692,738 835,510
PT Permodalan Nasional Madani Persero b 511,494
440,499 The Government of Republic of Indonesia c Note 48
350,000 350,000
PT Bank Ekspor Indonesia Persero d -
80,702 Others
g 225,000
350,000 Total
Rupiah 1,779,232 2,056,711
Foreign Currency: Direct Off-shore Loans f
1,366,061 555,892
Trade Financing Facilities e 138,945
4,398,426 PT Bank Ekspor Indonesia Persero d
- 105,327
Others g
- 249,694
Total Foreign Currency 1,505,006
5,309,339 3,284,238 7,366,050
As of June 30, 2006 and 2005, fund borrowings from related parties amounted to Rp350,000 and Rp350,000, respectively.
a Bank Indonesia
This account represents a credit liquidity facility obtained from Bank Indonesia BI, which was re- loaned to Bank Mandiri customers under the Government Credit Program. The management and
monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a state- owned company, based on Law No. 231999 dated May 17, 1999 regarding BI, BI Regulation No.
23PBI2000 dated February 1, 2000 and BI Regulation No. 520PBI2003 dated September 17, 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 9 per annum and will mature on various dates through 2017. The details of this account are as follows:
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
77
25. FUND BORROWINGS continued
