PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2017 and For the Six Months Period Then Ended unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
51
15. SHORT-TERM BANK LOANS AND CURRENT MATURITIES OF LONG-TERM BORROWINGS continued
b. Current maturities of long-term borrowings
Notes June 30, 2017 December 31, 2016
Two-step loans 16a
224 225
Bonds and notes 16b
- 1
Bank loans 16c
3.606 3,637
Obligations under finance leases 9c.xii
691 658
Total 4,521
4,521 16. LONG-TERM LOANS AND OTHER BORROWINGS
Notes June 30, 2017
December 31, 2016
Two-step loans 16a
979 1,067
Bonds and notes 16b
8,982 9,322
Bank loans 16c
13,943 11,929
Other borrowings 16d
1,295 697
Obligations under finance leases 9c.xii
3,168 3,352
Total 28,367
26,367
Scheduled principal payments as of March 31, 2017 are as follows:
Year Notes
Total 2018
2019 2020
2021 Thereafter
Two-step loans 16a
979 93
185 186
169 346
Bonds and notes 16b
8,982 -
- 1,995
- 6,987
Bank loans 16c
13,943 1,730
3,646 3,761
1,657 3,149
Other borrowings 16d
1,295 99
199 199
199 599
Obligations under finance leases
9c.xii 3,168
346 639
646 661
876
Total 28,367
2,268 4,669
6,787 2,686
11,957
a. Two-step loans Two-step loans are unsecured loans obtained by the Government from overseas banks which are
then re-loaned to the Company. Loans obtained up to July 1994 are payable in rupiah based on the exchange rate at the date of drawdown. Loans obtained after July 1994 are payable in their original
currencies and any resulting foreign exchange gain or loss is borne by the Company.
June 30, 2017 December 31, 2016
Outstanding Outstanding
Lenders Currency
Original currency
in millions Rupiah
equivalent Original
currency in millions
Rupiah equivalent
Overseas banks Yen
5,759 691
6,143 707
US 20
262 22
295 Rp
- 250
- 290
Total 1,203
1,292 Current maturities Note 15b
224 225
Long-term portion 979
1,067
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of June 30, 2017 and For the Six Months Period Then Ended unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
52
16. LONG-TERM LOANS AND OTHER BORROWINGS continued
a. Two-step loans continued
Lenders Currency
Principal payment
schedule Interest payment
period Interest rate per
annum
Overseas banks Yen
Semi-annually Semi-annually
2.95 US
Semi-annually Semi-annually
3.85 Rp
Semi-annually Semi-annually
8.25
The loans were intended for the development of telecommunications infrastructure and supporting telecommunications equipment. The loans will be settled semi-annually and due on various dates
through 2024.
The Company had used all facilities under the two-step loans program since 2008. Under the loan covenants, 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 Develo
pment Bank “ADB”. b. Internal financing earnings before depreciation and finance costs should exceed 20
compared to annual average capital expenditures for loans originating from the ADB. As of June 30, 2017, the Company has complied with the above-mentioned ratios.
b. Bonds and notes
June 30, 2017 December 31, 2016
Outstanding Outstanding
Bonds and notes Currency
Original currency
in millions Rupiah
equivalent Original
currency in millions
Rupiah equivalent
Bonds 2010
Series B Rp
- 1,995
- 1,995
2015 Series A
Rp -
2,200 -
2,200 Series B
Rp -
2,100 -
2,100 Series C
Rp -
1,200 -
1,200 Series D
Rp -
1,500 -
1,500 Medium Term Notes “MTN”
GSD Series A
Rp -
- 220
Series B Rp
- -
120 Promissory notes
PT ZTE Indonesia “ZTE” US
- -
- 1
Total 8,995
9,336 Unamortized debt issuance cost
13 13
Total 8,982
9,323 Current maturities Note 15b
- 1
Long-term portion 8,982
9,322
