PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED
Figures in tables are presented in billions of Rupiah, unless otherwise stated
59
18. CURRENT MATURITIES OF LONG-TERM LIABILITIES continued
b. Long-term portion Scheduled principal payments as of September 30, 2013 are as follows:
Year Notes
Total 2014 2015 2016 2017 Thereafter
Bank loans 21
6,312 1,610 2,772
1,006 576
348 Bonds and notes
20 3,108
64 1,041 8
- 1,995 Two-step loans
19 1,782
79 215
218 219 1,051
Obligations under finance leases 11 3,625
153 452
446 463 2,111
Total 14,827
1,906 4,480 1,678 1,258
5,505 19. 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.
September 30, 2013 December 31, 2012
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency in millions
equivalent in millions equivalent
Overseas banks Yen
8,831 1,046
9,215 1,031
US 35
408 -
574 Rp
539 40
382 Total
1,993 1,987
Current maturities Note 18a 211
196
Long-term portion Note 18b 1,782
1,791 Interest
Interest Payment
payment rate
Lenders Currency schedule
period per annum
Overseas banks US
Semi-annually Semi-annually 4.00
Rp Semi-annually Semi-annually
9.81 Yen
Semi-annually Semi-annually 3.10
The loans are intended for the development of telecommunications infrastructure and supporting telecommunication equipment. The loans are payable in semi-annual installments and are due on
various dates through 2024.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED
Figures in tables are presented in billions of Rupiah, unless otherwise stated
60
19. TWO-STEP LOANS continued
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: 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 ADB. As of September 30, 2013, the Company complied with the above mentioned ratios.
Refer to Note 37 for details of related party transactions. 20. BONDS AND NOTES
September 30, 2013 December 31, 2012
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Bonds and notes Currency in millions
equivalent in millions equivalent
Bonds Series A
Rp -
1,005 -
1,005 Series B
Rp -
1,995 -
1,995 Medium Term Notes “MTN”
PT Finnet Indonesia “Finnet” Rp
- -
8 Promissory Notes
PT Huawei US
25 289
46 445
PT ZTE Indonesia “ZTE” US
15 172
22 216
Total 3,461
3,669 Current maturities Note 18a
353 440
Long-term portion Note 18b 3,108
3,229
a. Bonds
Interest Interest Listed
Issuance Maturity payment rate
Bonds Principal
Issuer on
date date
period per annum
Series A 1,005 The Company
IDX June 25, 2010 July 6, 2015 Quarterly
9.60 Series B
1,995 The Company IDX June 25, 2010 July 6, 2020
Quarterly 10.20
Total 3,000
The bonds are secured by all of the Company’s assets, movable or non-movable, either existing or in the future Note 11c.x. The underwriters of the bonds are Bahana, 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.