PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued JUNE 30, 2009 AND 2010
SIX MONTHS PERIOD ENDED JUNE 30, 2009 AND 2010 Figures in tables are presented in millions of Rupiah, unless otherwise stated
64
23. BANK LOANS continued
i. Bank Ekonomi
i On December 7, 2006, Sigma entered into a facility loan agreement with Bank Ekonomi for Rp.14,000 million. The facility bears a floating interest rate from 12.50 per annum to
15.50 per annum and is payable in 63 monthly installments starting from September 12, 2007 and ending on December 12, 2012. As of June 30, 2009 and 2010, the
principal outstanding amounted to Rp.10,255 million and Rp.7,772 million, respectively.
ii On March 9, 2007, Sigma entered into a facility loan agreement with Bank Ekonomi for Rp.13,000 million. The facility bears a floating interest rate from 12.50 per annum to
15.50 per annum and is payable in 60 monthly installments starting from December 12, 2007 and ending on December 12, 2012. As of June 30, 2009 and 2010, the principal
outstanding amounted to Rp.8,188 million and Rp.6,206 million, respectively.
iii On September 10, 2008, Sigma entered into a facility loan agreement with Bank Ekonomi for Rp.33,000 million. The facility bears a floating interest rate from 12.50 per annum to
15.50 and is payable in 78 monthly installments starting from March 11, 2009 and ending on March 11, 2015. As of June 30, 2009 and 2010, the principal outstanding amounted to
Rp.32,103 million and Rp.28,052 million, respectively.
iv On August 7, 2009, Sigma entered into a facility loan agreement with Bank Ekonomi for Rp.65,000 million. On September 17, 2009, the agreement is amended to change the facility
to Rp.35,000 million. The facility bears a floating interest rate from 12.50 per annum to 13.50 per annum and is payable in 36 monthly installments with maturity date on
September 9, 2012. As of June 30, 2010, the principal outstanding amounted to Rp.21,582 million.
v On August 7, 2009, Sigma entered into a facility loan agreement with Bank Ekonomi for Rp.20,000 million. The facility bears a floating interest rate from 12.50 per annum to
15.50 per annum and is payable in 48 monthly installments. A portion of the facilities of Rp.7,000 million will mature in November 19, 2013 and the remainder of Rp.4,750 million will
mature in April 7, 2014. As of June 30, 2010, the principal outstanding amounted to Rp.10,776 million.
These credit facilities are secured by a parcel of land and buildings of Sigma located in Surabaya Note 11 and Sigma’s trade receivables Note 6 and also includes certain restrictive covenants
which require Sigma to obtain written consent from Bank Ekonomi prior to acting as guarantor for third party loan, mortgaging the land to other bank or third party, leasing the land to third party,
withdrawing the facility exceeding the maximum facility limit, changing Sigma’s legal status, distributing or declaring dividend and paying shareholder’s receivables.
As of June 30, 2010, Sigma has complied with the above covenant.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS UNAUDITED continued JUNE 30, 2009 AND 2010
SIX MONTHS PERIOD ENDED JUNE 30, 2009 AND 2010 Figures in tables are presented in millions of Rupiah, unless otherwise stated
65
23. BANK LOANS continued
j. Syndication of banks
i On July 29, 2008, the Company entered into a long-term loan agreements with syndication of BNI, BRI and Bank Jabar syndication of banks of Rp.2,400,000 million. This facility is
payable in 8 equal semi-annual installments commencing 6 months after the end of the availability period. Bank BNI, acting as the facility agent, charged a floating interest rate of
three-month JIBOR plus 1.2 per annum which becomes due quarterly in arrears and is unsecured. The loan will mature on July 28, 2013. As of June 30, 2009 and 2010, the
principal outstanding amounted to Rp.2,400,000 million and Rp.2,100,000 million, respectively.
As stated in the agreements, the Company is required to comply with all covenants or restrictions including maintaining financial ratios as follows, in which the Company has
complied with as of June 30, 2010 as follows:
1. Debt to equity ratio should not exceed 2:1. 2. Debt service coverage ratio should exceed 125.
ii On June 16, 2009, the Company entered into a long-term loan agreements with syndication of BNI and BRI syndication of banks for Rp.2,700,000 million. This facility is payable in
8 equal semi-annual installments commencing 6 months after the end of the availability period. Bank BNI, acting as the facility agent, charged a floating interest rate of three-month
JIBOR plus 2.45 per annum which becomes due quarterly in arrears and is unsecured. The loan will mature on June 15, 2014. As of June 30, 2009 and 2010, the principal outstanding
amounted to Rp.2,200,000 million and Rp.2,700,000 million, respectively.
As stated in the agreements, the Company is required to comply with all covenants or restrictions including maintaining financial ratios as follows, in which the Company has
complied with as of June 30, 2010 as follows:
1. Debt to equity ratio should not exceed 2:1. 2. Debt service coverage ratio should exceed 125.
k. ANZ Panin On September 4, 2009, Telkomsel entered a medium-term facility loan agreement with ANZ
Panin for Rp.1,000,000 million. This facility is in 9 equal semi-annual installments commencing 6 months after the end of the availability period. The loan bears a floating interest rate of three-
month JIBOR plus 2.5 per annum which becomes due quarterly in arrears and is unsecured.
l. BII
On September 15, 2009, Telkomsel entered a medium-term facility loan agreement with BII for Rp.500,000 million. This facility is in 9 equal semi-annual installments commencing 6 months
after the end of the availability period. The loan bears a floating interest rate of three-month JIBOR plus 3.25 per annum which becomes due quarterly in arrears and is unsecured.
