PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
77
25. FUND BORROWINGS continued
a Bank Indonesia
continued
2005 2004
Rupiah: Small-Scale Working Capital Loans KKPA
420,571 520,650
Small-Scale Investment Loans KIK 188,738
266,628 Investment Loans KI
125,695 155,811
735,004 943,089
b PT Permodalan Nasional Madani Persero This account represents credit facilities obtained from PT Permodalan Nasional Madani Persero,
which borrowings were re-loaned by Bank Mandiri to the members of the Primary Cooperative Kredit Koperasi Primer kepada Anggotanya [KKPA]. These facilities are subject to interest at 7
per annum. The loan terms and installment payments schedule reflect the terms of the individual loan agreements.
c The Government of Republic of Indonesia This account represents credit facilities obtained from The Government of Republic of Indonesia
based on agreement No. KP-022DP32004 dated May 14, 2004 which was amended with agreement No. AMA-7KP-022DP32004 dated December 15, 2004 and letter No.5-662PB.72005
dated May 13, 2005 regarding amandment of loan agreement between The Government of Republic of Indonesia and PT Bank Mandiri Persero Tbk No. KP-022DP32004 dated May 14, 2004. This
borrowing is re-loaned by Bank Mandiri to the small and micro businesses which procedures, arrangements and requirements of the relending program are agreed with the Decision Letter of
Ministry of Finance No. 40KMK.062003 dated January 29, 2003 regarding Credit Financing Facilities for Small and Micro Businesses and amended with Decision Letter of Ministry of Finance
No. 74KMK.062004 dated February 20, 2004. This facility bears interest at 3-month SBI rate which will be determined every four months at March 10, June, 10 September 10 and December 10 based
on the latest SBI auction rate. The repayment of the borrowing will be made in five 5 installments and the first installment will be due on December 10, 2007.
d PT Bank Ekspor Indonesia Persero This account represents credit facilities for export working capital obtained from Bank Ekspor
Indonesia based on the facility agreement No. 064PPF122000 dated December 12, 2000 between PT Bank Ekspor Indonesia Persero and PT Bank Mandiri Persero Tbk. The agreement was for the
period from December 20, 2000 until December 19, 2001, and was extended annually with the latest agreement No. 054PPF122005 to December 16, 2006. The facilities were re-loaned to direct and
indirect exporter customers of Bank Mandiri and bear interest at market rates.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
78
25. FUND BORROWINGS continued
e Trade Financing Facilities Trade financing facilities represent short-term borrowings with tenors between 180 to 185 days and
bear interest at LIBOR and SIBOR plus an applicable margin. These borrowings are guaranteed by letters of credit issued by Bank Mandiri. The details of the borrowings are as follows :
2005 2004
Commerzbank, Singapore
196,600 -
HSBC, Jakarta -
510,675 ABN AMRO, Singapore
- 464,250
Bank of New York, Singapore -
232,125 HSBC, Hong Kong
- 232,125
Indover Bank Limited, Hong Kong -
278,668 ABN
AMRO, Jakarta
- 185,700 Indover Bank Limited, Germany
- 46,425
196,600 1,949,968
f Direct Off-shore Loans The details of direct off-shore loans are as follows :
2005 2004
Deutsche Bank AG, Singapore 737,250
- Sumitomo Mitsui Banking Corporation, Singapore
294,900 278,550
United Overseas Bank, Singapore 265,410
111,420 Bayerische Hypo-Und Vereinsbank AG, Singapore
147,450 139,275
1,445,010 529,245
Borrowing from Deutsche Bank AG, Singapore, Sumitomo Mitsui Banking Corporation SMBC, Singapore, Bayerische Hypo-und Vereinsbank AG BHV, Singapore and United Overseas Bank
UOB, Singapore bear interest at three-month LIBOR plus an applicable margin, three-month SIBOR plus an applicable margin, six-month LIBOR plus an applicable margin and six-month SIBOR plus an
applicable margin respectively. These borrowings will be fully paid on maturity date.
g Exchange Offer Loans In accordance with the Government’s debt restructuring program for banks, Bank Mandiri exchanged
certain non-Rupiah denominated obligations obtained from foreign banks for new borrowings with extended maturities, and guaranteed by Bank Indonesia pursuant to the exchange offer
memorandum in the Master Loan Agreement as follows:
2005 2004
US Rupiah
US Rupiah
full amount Equivalent
full amount Equivalent
Exchange Offer Loan II - -
182,100,000 1,690,799
