PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the three month periods Ended March 31, 2017 and 2016 unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
50
15. SHORT-TERM BANK LOANS AND CURRENT MATURITIES OF LONG-TERM BORROWINGS continued
b. Current maturities of long-term borrowings
Notes March 31, 2017 December 31, 2016
Two-step loans 16a
227 225
Bonds and notes 16b
- 1
Bank loans 16c
3,651 3,637
Obligations under finance leases 9c.xii
672 658
Total 4,550
4,521 16. LONG-TERM LOANS AND OTHER BORROWINGS
Notes March 31, 2017 December 31, 2016
Two-step loans 16a
1,055 1,067
Bonds and notes 16b
9,322 9,322
Bank loans 16c
11,995 11,929
Other borrowings 16d
697 697
Obligations under finance leases 9c.xii
3,250 3,352
Total 26,319
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
1,055 172
185 185
169 344
Bonds and notes 16b
9,322 -
220 2,115
- 6,987
Bank loans 16c
11,995 3,984
2,350 2,401
1,292 1,968
Other borrowings 16d
697 53
107 107
107 323
Obligations under finance leases
9c.xii 3,250
494 605
626 649
876
Total 26,319
4,703 3,467
5,434 2,217
10,498
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.
March 31, 2017 December 31, 2016
Outstanding Outstanding
Lenders Currency
Original currency
in millions Rupiah
equivalent Original
currency in millions
Rupiah equivalent
Overseas banks Yen
6,143 732
6,143 707
US 20
263 22
295 Rp
- 287
- 290
Total 1,282
1,292 Current maturities Note 15b
227 225
Long-term portion 1,055
1,067
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS For the three month periods Ended March 31, 2017 and 2016 unaudited
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
51
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 Development 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 March 31, 2017, the Company has complied with the above-mentioned ratios. b. Bonds and notes
March 31, 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 -
220 Series B
Rp -
120 -
120 Promissory notes
PT ZTE Indonesia “ZTE” US
- -
1 Total
9,335 9,336
Unamortized debt issuance cost 13
13 Total
9,322 9,323
Current maturities Note 15b -
1
Long-term portion 9,322
9,322
