PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5100 26. MARKETABLE SECURITIES ISSUED continued
Bank Mandiri and Subsidiaries have paid the interest of the above marketable securities issued in accordance to the interest payment schedule for the period 1 January 2010 to 31 December 2010.
For the period 1 January 2010 to 31 December 2010, Bank Mandiri and Subsidiaries have fulfilled covenants as stipulated in the agreements unaudited.
27. FUND BORROWINGS
2010 2009
2008
Rupiah: a The Government of the Republic of Indonesia Note 50
200,000 200,000
240,000 b PT Permodalan Nasional Madani Persero
95,056 180,031
241,974 c Bank Indonesia
27,121 135,822
214,337 f Others
910,256 610,003
710,000 Total Rupiah
1,232,433 1,125,856
1,406,311 Foreign currencies:
d Direct Off-shore Loans 3,906,855
2,818,500 4,065,700
e Trade financing facilities 495,550
- 3,899,497
Total foreign currencies Note 56e 4,402,405
2,818,500 7,965,197
5,634,838 3,944,356
9,371,508
As at 31 December 2010, 2009 and 2008, fund borrowings from related parties amounted to Rp200,000, Rp200,000 and Rp240,000, respectively Note 50.
a The Government of the Republic of Indonesia This account represents fund borrowings obtained from the Government of the Republic of
Indonesia based on agreement No. KP-022DP32004 dated 14 May 2004 which was amended with
agreement No.
AMA-7KP-022DP32004 dated
15 December
2004 and
letter No. S-662PB.72005 dated 13 May 2005 and amendment agreement No. AMA-30KP-
022DP32006 dated 24 August 2006 and letter No. S-3207PB2008 dated 21 April 2008, each of them is regarding Amendment of Loan Agreement between the Government of the Republic of
Indonesia and PT Bank Mandiri Persero Tbk. No. KP-022DP32004 dated 14 May 2004 and the Approval of Amendment of Loan Agreement between the Government of the Republic of
Indonesia and Bank Mandiri in relation to the Credit Financing for Small and Micro Businesses. This borrowing is then lent by the Bank to small and micro businesses where the procedures,
arrangements and requirements of the re-lending program are outlined in the Decision Letter of Minister of Finance No. 40KMK.062003 dated 29 January 2003 regarding Credit Financing
Facilities for Small and Micro Businesses and amended with Decision Letter of Minister of Finance No. 74KMK.062004 dated 20 February 2004. This facility bears interest at 3-months
SBI rate which will be determined every three months on 10 March, 10 June, 10 September and 10 December based on the latest SBI auction rate. The Bank has made 5 five installment
payments with the first installment paid on 10 December 2007. For the remaining outstanding balance of Rp200,000, the installment payment will start in December 2017 and will mature in
December 2019.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
AS AT 31 DECEMBER 2010, 2009 AND 2008
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5101 27
.
FUND BORROWINGS continued
b PT Permodalan Nasional Madani Persero This account represents fund borrowing obtained from PT Permodalan Nasional Madani
Persero to Bank Mandiri and Bank Sinar Harapan Bali BSHB. The outstanding loan balance as at 31 December 2010, 2009 and 2008 for Bank Mandiri are Rp84,421, Rp153,507 and
Rp219,050, respectively, and for BSHB are Rp10,635, Rp26,524 and Rp22,924, respectively. These facilities bear interest rate at 7.00 per annum. The fund borrowing terms and payment
schedule depend on the terms of the individual loan agreement, the latest will mature in December 2013. Bank Mandiri then lent the proceeds to the members of Primary Cooperation
Kredit Koperasi Primer kepada Anggotanya [KKPA].
c Bank Indonesia This account represents credit liquidity facility obtained from Bank Indonesia BI, which was then
lent to Bank Mandiri’s debtors under the Government Credit Program. The administration and monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a
state-owned company, based on Law No. 231999 dated 17 May 1999 regarding BI, BI Regulation No. 23PBI2000 dated 1 February 2000 and BI Regulation No. 520PBI2003 dated
17 September 2003 regarding the Hand-over of Management of Credit Liquidity of Bank Indonesia Under Credit Program. This facility is subject to interest at rates ranging from 3.00 to
9.00 per annum and will mature on various dates up to 2017. The details of this account are as follows:
2010 2009
2008
Small-Scale Investment Loans KIK 18,265
35,968 52,889
Loans to the Members of Primary Cooperation KKPA 8,856
79,701 135,971
Investment Loans KI -
20,153 25,477
27,121 135,822
214,337
d Direct Off-shore Loans The details of direct off-shore loans are as follows:
2010 2009
2008
Deutsche Bank International Asia Ltd, Singapore 2,703,000
2,818,500 3,270,000
Asian Development Bank - Tranche A
667,412 -
- - Tranche B
267,248 -
- Agence Française de Développement
269,195 -
- Syndication of Oversea - Chinese Banking Corporation Limited,
United Overseas Bank Limited, Intesa San Paolo S.P.A., DZ Bank AG Deutsche Zentral -
Genossenschaftsbank and Bank Muscat S.A.O.G. -
- 599,500
Sumitomo Mitsui Banking Corporation, Singapore -
- 196,200
3,906,855 2,818,500
4,065,700
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 at the second and third year would be subject to fixed interest rate. This loan has been extended and will mature on 1 February 2011. This loan facility is secured by Government
Bonds series VR0019 with a nominal value of Rp3,967,500 Note 7c. This facility has been fully repaid by the Bank on maturity date.
