FUND BORROWINGS Employee benefit continued
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5102 27. FUND BORROWINGS continued
d Direct Off-shore Loans continued
Asian Development Bank
31 December 2011
Interest Nominal amount
Type Arranger
Maturity Date Tenor
Rate USD
Rupiah months
per annum full amount
equivalent Tranche A
Asian Development
LIBOR 6 months
Bank 31 October 2016
84 + certain margin 75,000,000
680,063 Less:
Unamortised issuance costs 675,044
6,121 74,324,956
673,942
Tranche B Asian Development
LIBOR 6 months
Bank 31 October 2014
60 + certain margin 30,000,000
272,025 Less:
Unamortised issuance costs 210,271
1,907 29,789,729
270,118 31 December 2010
Interest Nominal amount
Type Arranger
Maturity Date Tenor
Rate USD
Rupiah months
per annum full amount
equivalent
Tranche A Asian Development
LIBOR 6 months
Bank 31 October 2016
84 + certain margin
75,000,000 675,750
Less: Unamortised issuance costs
925,406 8,338
74,074,594 667,412
Tranche B Asian Development
LIBOR 6 months
Bank 31 October 2014
60 + certain margin
30,000,000 270,300
Less: Unamortised issuance costs
338,699 3,052
29,661,301 267,248
On 30 October 2009, as further amended and restated on 13 November 2009, Bank Mandiri signed a long-term credit agreement with Asian Development Bank ADB with a total facility
amounting to USD105,000,000 full amount. This long-term loan is intended to enhance the funding structure of Bank Mandiri.
The loan consists of two facilities, where Tranche A Facility is a direct loan from ADB with total facility amounting to USD75,000,000 full amount and will mature in 7 seven years after the
agreement date, whilst Tranche B from ADB as Lender of Record is funded by commercial banks through the Participation Agreements between ADB and the commercial banks with a total facility
amounting to USD30,000,000 full amount and will mature in 5 five years after the agreement date. The loan was withdrawn on 28 January 2010. As at 31 December 2011 and 2010, this loan
facility is secured by Government Bonds series VR0031 with a nominal value of Rp1,286,663 Note 8c.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5103 27. FUND BORROWINGS continued
d Direct Off-shore Loans continued
Agence Française de Développement
31 December 2011
Interest Nominal amount
Type Arranger
Maturity Date Tenor
Rate USD
Rupiah months
per annum full amount
equivalent
Loan Agence Française
LIBOR 6 months de Développement
31 March 2016 60
+ certain margin 24,545,455
222,566 Less:
Unamortised issuance costs
81,907 742
24,463,548 221,824
31 December 2010
Interest Nominal amount
Type Arranger
Maturity Date Tenor
Rate USD
Rupiah months
per annum full amount
equivalent
Loan Agence Française
LIBOR 6 months de Développement
31 March 2016 60
+ certain margin 30,000,000
270,300 Less:
Unamortised issuance costs 123,000
1,105 29,877,000
269,195
On 17 June 2010, Bank Mandiri signed a loan facility agreement with Agence Française de Développement AFD of USD100,000,000 full amount which is intended to assist the financing
projects related to climate change and energy efficiency.
This long term facility has a tenor of 5 to 10 years including grace period with an interest rate of 6-months LIBOR plus a certain margin and will be used to finance the projects that reduce the
carbon emission.
As part of the loan agreement, Bank Mandiri and AFD will finance the training programs aimed to develop the Bank Mandiri’s capacity, especially in relation to climate change and energy
efficiency.
On 15 December 2010, the Bank has drawdown borrowing from AFD with the total amount of USD30,000,000 full amount.
This loan will mature on 31 March 2016.
Deutsche Bank International Asia Limited, Singapore DBI
On 27 February 2008, the Bank obtained a loan from DBI of USD300.000.000 full amount with interest rate at a 3-months LIBOR plus a certain margin for the first year. If the loan is extended,
the interest rate for the second and third year would be subject to fixed interest rate. This loan has been extended and matured on 1 February 2011. As at 31 December 2010, this loan facility is
secured by Government Bonds VR0019 series with a nominal value of Rp3.967.500 Note 8c. This loan has been repaid by the Bank at maturity.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5104 27
.
FUND BORROWINGS continued
e Trade Financing Facilities Bankers Acceptance Trade financing facilities represent short-term borrowings with tenors between 90 to 365 days and
bear interest at LIBOR or SIBOR plus a certain margin. These borrowings are guaranteed by letters of credit issued by Bank Mandiri. The balance as at 31 December 2011 and 2010 are as
follows:
2011 2010
Wells Fargo Bank NA, United States of America 816,075
- Bank of Nova Scotia, Singapore
634,725 180,200
JP Morgan Chase Bank NA, Singapore 571,253
135,150 Australia New Zealand Banking Group Limited, Singapore
544,050 -
Bank of New York, Mellon, Singapore 498,713
- Deutsche Bank AG, Singapore
272,025 -
Sumitomo Mitsui Banking Corporation, Singapore 226,688
- Bank of America NA, Singapore
181,350 -
Bank of Montreal, Kanada 136,012
- Bank of Nova Scotia, Hong Kong
136,012 -
Commerzbank AG, Jerman 90,675
- Oversea - Chinese Banking Corporation Limited, Singapore
- 180,200
4,107,578 495,550
f Others
2011 2010
PT Panin Bank Tbk. 581,578
- PT Sarana Multigriya Finansial Persero
450,000 -
PT Bank Central Asia Tbk. 318,104
301,967 Lembaga Pembiayaan Ekspor Indonesia
300,000 -
PT Bank Danamon Indonesia Tbk. 155,881
287,465 PT Bank DKI
152,941 -
PT Bank UOB Indonesia 116,049
73,243 PT Bank OCBC NISP Tbk.
94,256 -
PT Bank Negara Indonesia Persero Tbk. 85,259
- The Hong Kong and Shanghai Banking Corporation Ltd.
70,000 100,000
PT Bank DBS Indonesia 65,000
- PT Bank CIMB Niaga Tbk.
47,333 97,643
PT Bank ANZ Indonesia 25,000
- PT Bank Internasional Indonesia Tbk.
25,000 -
PT Bank Chinatrust Indonesia 20,000
49,938 PT Bank Jabar Banten Tbk.
19,950 -
2,526,35 1 910,256
PT Bank Panin Tbk.
On 16 February 2011 and 8 August 2011, a Subsidiary and PT Bank Panin Tbk. Panin signed loan agreements whereby Panin provides several non revolving term loan facilities with total limit of
Rp700,000 and bear fixed interest rate. These facilities have various maturity dates ranging between 17 February 2014 up to 7 November 2014.
On 12 May 2011, a Subsidiary and Panin also signed loan agreements whereby Panin provide d several revolving money market facilities with total limit of Rp5,000 and bear floating interest rate.
This facility will mature on 4 January 2012.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5105 27. FUND BORROWINGS continued
f Others continued
PT Sarana Multigriya Finansial Persero
On 3 October 2011, a Subsidiary Mudharib and PT Sarana Multifgriya Finansial SMF Shahibul Mal has entered into a Mudharabah wal Murabahah financing agreement which will be matured
within 3 three years from the date of financing amounting to Rp300,000. The financing is intended to support the Subsidiary’s working capital in mortgage financing to debtors using Murabahah or
Musyarakah Mutanaqishah principles. Agreed revenue sharing is 35.00 for the Subsidiary and 65.00 for SMF from gross income received by Mudharib before deducting by related costs.
Revenue sharing will be paid monthly starting from November 2011.
On 29 December 2011, PT SMF provided additional facility to the Subsidiary for 3 three years period from the date of financing amounting to Rp150,000 with the purposes to support the
Subsidiary’s working capital in mortgage financing to debtors using Murabahah or Musyarakah Mutanaqishah principles. Agreed revenue sharing is 38.00 for the Subsidiary and 62.00 for PT
SMF from gross income received by Mudharib before deducting by related costs. Revenue sharing will be paid monthly starting from January 2012.
PT Bank Central Asia Tbk.
On 7 March 2001, a Subsidiary and PT Bank Central Asia Tbk. BCA signed a credit agreement where BCA provided an overdraft facility. This agreement had been amended based on latest
agreement signed on 24 March 2011 with additional facility up to Rp55,000.
The Subsidiary and BCA also signed several credit agreements where BCA provided several non revolving term loan facilities and bear fixed interest rate or floating. These facilities have various
maturity dates ranging between 6 February 2012 up to 9 June 2014.
Lembaga Pembiayaan Ekspor Indonesia
On 16 September 2011, a Subsidiary and Lembaga Pembiayaan Ekspor Indonesia LPEI has signed a letter of refinancing agreement using murabahah agreement with a facility limit of
Rp300,000 and will be matured within 6 six months since disbursement date. The financing is intended to finance transaction related to export activities. Agreed revenue sharing is 24.80 for
the Subsidiary and 75.20 for LPEI. Revenue sharing is paid every 3 three months since the date of disbursement and maturity date of the facility.
PT Bank Danamon Indonesia Tbk.
On 20 May 2010, a Subsidiary and PT Bank Danamon Indonesia Tbk. Danamon entered into a loan agreement deed No. 26 dated 20 May 2010. This agreement has been extended up to 20
June 2012. Danamon provided a revolving working loan facility amounting to Rp100,000 and bear floating interest rate. Danamon also provided several revolving term loan facilities with total facility
of Rp269,000 and bear fixed interest rate. These facilities have various maturity dates ranging between 9 June 2013 up to 8 July 2014.
PT Bank DKI
On 2 March 2011 and 10 October 2011, a Subsidiary and PT Bank DKI Bank DKI signed a loan agreement where Bank DKI provided several non revolving term loan facilities with total facilities of
Rp225,000 and bear fixed interest rate. These facilities have various maturity dates ranging between 10 March 2014 up to 10 April 2015.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5106 27. FUND BORROWINGS continued
f Others continued
PT Bank UOB Indonesia
On 29 November 2010, a Subsidiary and PT Bank UOB Indonesia UOB signed a loan agreement whereby UOB provided several non revolving term loan facilities with total facilities of Rp150,000
and bear fixed interest rate. These facilities have various maturity dates ranging between 1 December 2013 up to 2 February 2014.
A Subsidiary also obtained a banking facility from UOB through agreement dated 29 September 2011 with loan period up to 29 September 2012. The facilities provided by UOB consist of
promissory note line facility and its sub limit facility in the form of uncommitted bank guarantee, and foreign exchange line facility with maximum amount for each facility of Rp100,000, Rp100,000 and
USD5,000,000 full amount, respectively. Under the term of agreement, the interest rate on promissory note line facility is determined at the annual UOB’s lending rate.
PT Bank OCBC NISP Tbk.
On 27 June 2011 and 16 December 2011, a Subsidiary and PT Bank OCBC NISP Tbk. OCBC signed a loan agreement whereby OCBC provided several non revolving term loan facilities with
total facility of Rp150,000 and bear fixed interest rate. These facilities have various maturity dates ranging between 28 June 2014 up to 29 December 2014.
PT Bank Negara Indonesia Persero Tbk.
On 23 November 2011, a Subsidiary and PT Bank Negara Indonesia Persero Tbk. BNI signed a joint financing agreement whereby BNI provided revolving joint financing facility with total facility of
Rp400,731 and bear fixed interest rate. The facility will mature on 30 December 2014.
The Hong Kong and Shanghai Banking Corporation Ltd.
On 22 May 2007, a Subsidiary and The Hong Kong and Shanghai Banking Corporation Ltd. HSBC signed a credit agreement where HSBC provided a short-term funding facility and an
exposure risk limit weightoption facility. On 12 February 2009, the Subsidiary entered into renewal short-term funding facilities and exposure risk limit weightedoption facility agreements
with HSBC amounting to Rp175,000, USD5,000,000 full amount and USD1,000,000 full amount, respectively. Under the terms of the agreement, interest for the funding facility is determined at the
annual HSBC’s lending rate. On 23 February 2011, the facility had been extended.
On 23 October 2000, a Subsidiary and HSBC signed a Corporate Banking Facility Loan Agreement where HSBC provided short term working capital facility amounting to Rp30,000. Based on the
latest agreement addendum dated 29 November 2010, the facility limit had been increased to Rp100,000 and bear a floating interest rate. The Subsidiary had withdrawn this facility on 24
January 2011. The facility will matured within 1 one year after the withdrawal date.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5107 27. FUND BORROWINGS continued
f Others continued
PT Bank DBS Indonesia
A Subsidiary is granted a banking facility from PT Bank DBS Indonesia DBS through agreement date of 20 June 2008. The agreement has been amended by the latest addendum of agreement
dated 8 September 2011, whereby the facilities provided by DBS are working capital facility revolving Rupiah facility advances of Rp150,000 and foreign exchange transaction facilities
uncommitted US Dollar facility with maximum amount of USD20,000,000 full amount and will expire on 8 June 2012. Under the terms of the agreement, interest for the working capital facility is
determined based on the certain margin above the annual prime lending rate of DBS or based on agreement at the time of drawdown.
The Subsidiary is granted a banking facility from DBS through agreement dated 20 June 2008. The agreement has been amended by the latest addendum of agreement dated 8 September 2011,
whereby the facilities provided by DBS are intraday facility of Rp100,000 and will expire on 8 June 2012.
On 16 August 2010, a Subsidiary is granted an uncommitted bank guarantee facility of Rp50,000 with validity period of 1 one year and the grace period for claim of payment is maximum 14 days.
This facility has been extended up to 8 June 2012.
PT Bank CIMB Niaga Tbk.
On 13 December 2001, a Subsidiary and PT Bank CIMB Niaga Tbk. CIMB signed a credit agreement and based on the latest amended agreement dated 15 December 2009, CIMB provided
several term loan facilities with the total facilities amounting to Rp150,000. The interest rate is determined based on the applicable interest rate and can vary at any time on a regular basis or
floating. These facilities have various maturity dates which ranging between 15 July 2012 up to 18 February 2013.
PT Bank ANZ Indonesia
On 14 July 2008, a Subsidiary and PT Bank ANZ Indonesia ANZ entered working capital facility agreement. The agreement has been amended by latest addendum of agreement dated 8
February 2011 whereby the Subsidiary has been granted working capital facility of Rp130,000 which will mature on 31 January 2012. Under the terms of the agreement, interest for the working
capital facility is determined based on the annual lending rate of ANZ.
On 10 November 2010, a Subsidiary is granted an uncommitted bank guarantee facility of Rp50,000 with validity period up to 31 January 2011. On 8 February 2011, this facility has been
extended up to 31 January 2012.
PT Bank Internasional Indonesia Tbk
On 30 May 2011, a Subsidiary entered into money market line facility agreement with PT Bank Internasional Indonesia Tbk BII whereby the Subsidiary has been granted money market line
facility of Rp150,000 and sub limit facility in the form of uncommitted bank guarantee of Rp100,000 with validity up to 1 June 2012. Under the terms of the agreement, interest for the money market
line facility is determined based on the annual lending rate of BII.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5108 27. FUND BORROWINGS continued
f Others continued
Bank Chinatrust Indonesia
On 22 December 2009, a Subsidiary and PT Bank Chinatrust Indonesia BCI signed a loan agreement whereby BCI provided a short term revolving working capital facility amounting to
Rp20,000 and bear floating interest rate. This facility will mature on 21 March 2012.
PT Bank Jabar Banten Tbk.
On 1 November 2011, a Subsidiary and PT Bank Jabar Banten Tbk. BJB entered into a loan agreement whereby BJB provided a non revolving term loan facility amounting to Rp20,000 and
bears a fixed interest rate. The Subsidiary has drawdown this facility on 28 December 2011. This facility will mature on 28 October 2014.
Bank Mandiri and its Subsidiaries have paid interest on all fund borrowings in accordance with the schedules of interest payments for the period 1 January 2011 to 31 December 2011.
For the period 1 January 2011 to 31 December 2011, Bank Mandiri and its Subsidiaries have fulfilled all covenants stipulated in all of the above fund borrowing agreements unaudited.