PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND MARCH 31, 2011 UNAUDITED AND
THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
61
19. MATURITIES OF LONG-TERM LIABILITIES continued
b. Long-term portion
In billions of Rupiah Notes
Total 2012 2013 2014 2015 Later
Bank loans 22 9,099.8 1,920.5 3,554.6 2,409.2 903.6
311.9 Bonds and notes
21 3,280.7 152.9
97.8 30.0 1,005.0 1,995.0
Two-step loans 20 2,531.5
264.6 312.6 315.0 317.7 1,321.6
Obligations under finance leases 11 376.1
144.3 110.9 64.3
14.5 42.1
Total 15,288.1 2,482.3 4,075.9 2,818.5 2,240.8 3,670.6
20. 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.
December 31, 2010 March 31, 2011
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency in millions
equivalent in millions equivalent
Overseas bank Yen
10,750.57 1,191,378
10,750.57 1,131,174
US 120.76
1,088,639 111.32
969,569 Rp.
- 856,649
- 816,101
Total 3,136,666
2,916,844 Current maturities Note 19a
395,363 385,303
Long-term portion Note 19b 2,741,303
2,531,541
Interest Interest
Payment payment
rate Lenders
Currency schedule
period per annum
Overseas bank US
Semi-annually Semi-annually 4.00 - 6.67
Rp. Semi-annually Semi-annually
7.57 - 7.73 Yen
Semi-annually Semi-annually 3.10
The loans are intended for the development of telecommunications infrastructure and supporting equipment. The loans are payable in semi-annual installments and are due on various dates through
2024.
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:
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued DECEMBER 31, 2010 AUDITED AND MARCH 31, 2011 UNAUDITED AND
THREE MONTHS PERIOD ENDED MARCH 31, 2010 AND 2011 UNAUDITED Figures in tables are presented in millions of Rupiah, unless otherwise stated
62
20. TWO-STEP LOANS continued
a. Projected net revenue to projected debt service ratio should exceed 1.5:1 and 1.2:1 for the two-step loans originating from the World Bank and Asian Development Bank “ADB”,
respectively. b. Internal financing earnings before depreciation and interest expense should exceed 50 and
20 compared to annual average capital expenditures for loans originating from World Bank and ADB, respectively.
As of March 31, 2011, the Company complied with the above mentioned ratios. Refer to Note 44 for details of related party transactions.
21. BONDS AND NOTES
December 31, 2010 March 31, 2011
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Bonds and notes Currency in millions
equivalent in millions equivalent
Bonds Series A
Rp. -
1,005,000 -
1,005,000 Series B
Rp. -
1,995,000 -
1,995,000 Medium Term Notes “MTN”
Metra Rp.
- 47,000
- 45,000
Sigma Rp.
- 30,000
- 30,000
Finnet Rp.
- 23,750
- 22,700
Promissory Notes PT. ZTE Indonesia “ZTE”
US 7.08
63,824 6.75
58,792 Huawei Tech
US 23.46
211,524 33.21
289,227 Total
3,376,098 3,445,719
Current maturities Note 19a 126,719
164,989
Long-term portion Note 19b 3,249,379
3,280,730
a. Bonds
Interest Interest Listed
Issuance Maturity payment
rate Bonds
Principal Issuer
on date
date method per annum
Series A 1,005,000 The Company
IDX June 25, 2010 July 6, 2015 Quarterly
9.60 Series B
1,995,000 The Company IDX June 25, 2010 July 6, 2020
Quarterly 10.20
Total 3,000,000
The bonds are secured by all assets owned by the Company. The underwriter of the bonds are PT Bahana Securities, 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.
