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
65
21. BONDS AND NOTES continued
b. MTN continued iii. Finnet continued
Repayment of principal for the second phase MTN are 2 each month on the following month until 35
th
month and the remaining 30 will be paid on March 24, 2013. The MTN bear interest rates of 16.25 per annum.
MTN are not secured by a specific collateral, but secured by all Finnet’s assets which are movable property or fixed property, either existing or in the future will become collateral for
MTN holders and at all times ranked pari passu without any preference with other Finnet’s creditor privileges in accordance with prevailing regulations. Finnet may buy back all or part
of the MTN at any time before the maturity date of the MTN. Based on the agreements, Finnet is required to comply with all covenants or restrictions
including maintaining financial ratio as follows:
1. Debt to Equity maximum 2.5:1 only if MTN is given by Finnet to third party 2. EBITDA to Interest Ratio minimum 2.5.
As of March 31, 2011, Finnet complied with the above mentioned ratios. Refer to Note 44 for details of related party transactions.
c. Promissory Notes
Interest Interest
Principal Issuance
Payment payment
rate Supplier
Currency in millions date
schedule method
per annum
PT. ZTE US
100 August 20, 2009
Semi-annually Semi-annually 6 month LIBOR+2.5 Indonesia
June 10, 2010 -
“ZTE”
May 25, 2013
PT Huawei Tech US
300 June 19, 2009
Semi-annually Semi-annually 6 month LIBOR+2.5 Investment
September 19, 2010 -
“Huawei Tech”
June 23, 2013
Based on Agreement of Frame Supply and Deferred Payment Arrangement between the Company with ZTE and Huawei Tech, the promissory notes issued by the Company to ZTE and
Huawei Tech is an unsecured supplier financing facility covered 85 of Hand Over Report “Berita Acara Serah Terima” or BAST projects with ZTE and Huawei Tech.
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
66
22. BANK LOANS
December 31, 2010 March 31, 2011
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency in millions
equivalent in millions equivalent
The Export-Import Bank of Korea “Korea Eximbank”
US 11.76
105,989 11.76
102,403 Bank Mandiri
Rp. -
3,075,556 -
2,593,334 BCA
Rp. -
2,755,556 -
2,333,334 BNI
Rp. -
1,150,000 -
666,667 Bank CIMB Niaga
Rp. -
24,215 -
23,129 BRI
Rp. -
822,000 -
533,000 Bank Ekonomi
Rp. -
79,378 -
75,682 Syndication of banks
Rp. -
4,500,000 -
3,862,500 PT Bank OCBC Indonesia
“OCBC Indonesia” Rp.
- 177,600
- 177,600
OCBC NISP Rp.
- 444,000
- 444,000
ABN Amro Bank N.V. Stockholm Branch
and Standard Chartered Bank
US 54.18
487,106 54.18
471,828 Industrial and Commercial
Bank of China Limited “ICBC”
US 46.36
416,783 46.36
403,711 Bank of China “BoC”
US 17.68
158,959 18.89
164,481 Finnish Export Credit Ltd
US 16.58
149,062 60.75
529,106 Japan Bank for International
Cooperation “JBIC” US
53.90 485,907
53.90 469,467
BTN Rp.
- 7,084
- 6,601
PT Bank Index Selindo “Bank Index” Rp.
- 502
- 434
Total 14,839,697
12,857,277 Unamortized debt issue cost
105,245 126,305
14,734,452 12,730,972
Current maturities Note 19a 4,478,247
3,631,222
Long-term portion Note 19b 10,256,205
9,099,750
Refer to Note 44 for details of related party transactions.
