PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
79
24. SECURITIES ISSUED continued
Details of MTN are as follows:
2008: Nil 2007
Interest Nominal Amount
Type Maturity
Tenor Rate
US Equivalent
ISIN No Arranger
Date months
Per Annum full amount
Rupiah MTN
Credit Suisse First XS0167272375
Boston Europe Ltd., London, April 22, 2008
60 7.00
299,466,824 2,812,892
UBS Hong Kong and PT Mandiri Sekuritas
Less: - Securities issued and held by Bank Mandiri and Subsidiaries 10,017,641
94,096 289,449,183
2,718,796 - Unamortized discount
96,115 903
289,353,068 2,717,893
Bank Mandiri issued Medium-Term Notes MTN amounting to US300,000,000 full amount with coupon 7.00 per annum at price of 99.482 and the maturity date is April 22, 2008. The MTN with nominal
value of US300,000,000 full amount is hedged with an interest rate swap instrument. The MTN is presented at fair value as a consequence of adjustment of the hedging transaction. At maturity date on
April 2008, the Bank had paid the MTN amounting to US300,000,000 full amount. On October 31, 2003, Bank Syariah Mandiri, a subsidiary, issued five-year Syariah Mudharabah bonds
amounting to Rp200,000. The profit sharing on such bonds is payable every 3 months with the first payment being made on January 30, 2004 while the maturity of the Syariah Mudharabah bonds is on
October 31, 2008. The profit on sharing will be taken from the margin revenue of Bank Syariah Mandiri obtained from its quarterly murabahah portfolio. These bonds have been paid on maturity date.
On January 25, 2007 Bank Syariah Mandiri offered and sold on a limited basis Subordinated Notes Syariah Mudharabah 2007 Subnotes Bank with maximum nominal value amounting to Rp200,000. The
Subnotes Bank’s will have term of 10 years with call option on the fifth year after issuance date. The Subnotes Bank holder’s Nisbah indication is 21.93 from profit sharing. The Subnotes Bank profit sharing
is paid every 3 three months since the issuance date. On April 5, 2007 Subnotes Bank which has been realized amounted to Rp200,000. The Subnotes Bank will mature in year 2017.
On November 6, 2008 PT Mandiri Sekuritas, a subsidiary, issued short-term notes with fixed interest rate of 16 per annum payable monthly commencing on November 30, 2008. The total amount is Rp37,400
and issued at a price of 100 of the principal. The maturity date is February 28, 2009.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
80
25. FUND BORROWINGS
2008 2007
Rupiah: PT Permodalan Nasional Madani Persero a
241,974 326,122
The Government of Republic of Indonesia c Note 47a 240,000
280,000 Bank Indonesia c
214,337 392,150
Others f 710,000
625,743 Total Rupiah
1,406,311 1,624,015
Foreign Currency: Direct Off - shore Loans d
4,065,700 845,370
Trade financing facilities e 3,899,497
6,875,676 Total Foreign Currency
7,965,197 7,721,046
Total 9,371,508
9,345,061
As of December 31, 2008 and 2007, fund borrowings from related parties amounted to Rp240,000 and Rp280,000, respectively Note 47a.
a PT Permodalan Nasional Madani Persero
This account represents credit facilities obtained from PT Permodalan Nasional Madani Persero to Bank Mandiri and Bank Sinar Harapan Bali BSHB. The outstanding loan balance as of December
31, 2008 for Bank Mandiri and BSHB are Rp219,050 and Rp22,925, respectively. These facilities are subjected to interest at 7 per annum. The loan terms and installment reflects the terms of the
individual loan agreement, that will matured on December 2013. Bank Mandiri re-lent the proceeds to the Members of Primary Cooperation Kredit Koperasi Primer kepada Anggotanya [KKPA].
b The Government of Republic of Indonesia This account represents credit facilities obtained from The Government of Republic of Indonesia
based on agreement No. KP-022DP32004 dated May 14, 2004 which was amended with agreement No. AMA-7KP-022DP32004 dated December 15, 2004 and letter No. 5-662PB.72005
dated May 13, 2005 regarding amendment of loan agreement between The Government of Republic of Indonesia and PT Bank Mandiri Persero Tbk No. KP-022DP32004 dated May 14, 2004. This
borrowing is re-loaned by Bank Mandiri to the small and micro businesses which procedures, arrangements and requirements of the relending program are agreed with the Decision Letter of
Ministry of Finance No. 40KMK.062003 dated January 29, 2003 regarding Credit Financing Facilities for Small and Micro Businesses and amended with Decision Letter of Ministry of Finance
No. 74KMK.062004 dated February 20, 2004. This facility bears interest at 3-month SBI rate which will be determined every four months at March 10, June 10, September 10 and December 10 based
on the latest SBI auction rate. The repayment of the borrowing will be made in five 5 installments and the first installment will be due on December 10, 2007. The first installment paid amounted to
Rp70,000 on December 10, 2007. This facility will mature in December 2019.
c 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:
