PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended
Figures in tables are expressed in billions of Rupiah, unless otherwise stated Table of Content
15. SHORT-TERM BANK LOANSAND CURRENT MATURITIES OF LONG-TERM BORROWINGS continued
b. Current maturities of long-term borrowings
Notes 2016
2015
Two-step loans 16a
225 224
Bonds and notes 16b
1 49
Bank loans 16c
3,637 2,928
Obligations under finance leases 9c.xii
658 641
Total 4,521
3,842 16. LONG-TERM LOANS AND OTHER BORROWINGS
Notes 2016
2015
Two-step loans 16a
1,067 1,296
Bonds and notes 16b
9,322 9,499
Bank loans 16c
11,929 15,434
Other borrowings 16d
697 -
Obligations under finance leases 9c.xii
3,352 3,939
Total 26,367
30,168
Scheduled principal payments as of December 31, 2016 are as follows:
Year
Notes Total
2018 2019
2020 2021
Thereafter
Two-step loans 16a
1,067 201
182 183
166 335
Bonds and notes
16b 9,322
220 2,115
6,987 Bank loans
16c 11,929
4,675 2,313
2,219 1,110
1,612 Other
borrowings 16d
697 53
107 107
107 323
Obligations under finance
leases 9c.xii
3,352 626
605 613
634 874
Total 26,367
5,555 3,427
5,237 2,017
10,131
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.
2016 2015
Outstanding Outstanding
Lenders Currency
Original currency
in millions Rupiah
equivalent Original
currency in millions
Rupiah equivalent
Overseas banks Yen
6,143 707
6,911 792
US 22
295 26
363 Rp
- 290
- 365
Total 1,292
1,520 Current maturities Note 15b
225 224
Long-term portion 1,067
1,296
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended
Figures in tables are expressed in billions of Rupiah, unless otherwise stated Table of Content
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 December 31, 2016, the Company has complied with the above-mentioned ratios.
b. Bonds and notes
2016 2015
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 Finnet
MTN I Rp
- -
- 200
Promissory notes PT Huawei
US -
- 1
14 PT ZTE Indonesia “ZTE”
US 1
1 14
Total 9,336
9,563 Unamortized debt issuance cost
13 15
Total 9,323
9,548 Current maturities Note 15b
1 49
Long-term portion 9,322
9,499
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended
Figures in tables are expressed in billions of Rupiah, unless otherwise stated Table of Content
16. LONG-TERM LOANS AND OTHER BORROWINGS continued
