PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
101
29. SUBORDINATED LOANS continued
b. By Type:
December 31, December 31,
April 30, 2004
2003 2003
Two-Step Loans TSL a
Nordic Investment Bank NIB 319,007
359,021 381,282
b Export-Import Bank of Japan EBJ
81,755 152,728
188,214 c
Asian Development Bank ADB 228,667
25,573 33,022
d International Bank for Reconstruction
and Development IBRD 27,896
37,508 46,577
e ASEAN Japan Development Fund Overseas
Economic Cooperation Fund AJDF-OECF 105,410
118,439 124,673
f ASEAN Japan Development Fund - Export- Import
Bank of Japan AJDF-EBJ 5,623
6,185 7,310
g Kreditanstalt fur Wiederaufbau, Frankfurt KfW
87,963 92,674
91,614 856,321
792,128 872,692
Bank Indonesia 2,498,859
930,859 1,416,859
Investment Fund Account RDI ex-Two-Step Loans -
277,252 415,878
Others 3,461,026
3,118,245 3,195,648
6,816,206 5,118,484
5,901,077
Two-Step Loans TSL a Nordic Investment Bank NIB
This account represents a credit facility obtained from NIB through the Government of the Republic of Indonesia, via the Ministry of Finance of the Republic of Indonesia, which re-lent the
proceeds to participating banks to finance projects in Indonesia. The details of these facilities are as follows:
Credit Facility Purpose
Repayment Period Nordic Investment Bank II
Nordic Investment Bank III
Nordic Investment Bank IV To promote and finance high priority
investments in Indonesia, primarily in the private sector, or joint Indonesian and
Nordic interests.
To promote and finance high priority investments in Indonesia, primarily in the
private sector, or joint Indonesian and Nordic interests.
To promote and finance high priority investments in Indonesia, primarily in the
private sector, or joint Indonesian and Nordic interests.
December 10, 1990 - July 15, 2005 with the 1
st
installment on January 15, 1996. August 4, 1993 - August 15, 2008 with
the 1
st
installment on February 15, 1999. April 15, 1997 - February 28, 2017 with
the 1
st
installment on August 31, 2002.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
102
29. SUBORDINATED LOANS continued
Two-Step Loans TSL continued a Nordic Investment Bank NIB continued
Details of outstanding credit facilities from Nordic Investment Bank are as follows:
December 31, December 31,
April 30, 2004
2003 2003
a Nordic Investment Bank II NIB II
7,379 14,759
18,448 b
Nordic Investment Bank III NIB III 45,320
56,650 64,566
c Nordic Investment Bank IV NIB IV
266,308 287,612
298,268 319,007
359,021 381,282
The interest rate on the NIB II facility is based on the past six months’ average interest rate for three-month Certificates of Bank Indonesia which should:
• Not be higher than the average interest rate for three-month time deposits for the past six
months in the five state-owned banks. •
Not be lower than the interbank interest rate to the Government of the Republic of Indonesia plus 1.75.
The interest rate on the NIB III facility is based on a variable interest rate as determined by Bank Indonesia based on the prevailing average interest rates for the past six months for three-month
Certificates of Bank Indonesia.
The interest rate on the NIB IV facility is based on a variable interest rate as determined by Bank Indonesia based on the prevailing average interest rates for the past six months for three-month
Certificates of Bank Indonesia.
b Export-Import Bank of Japan EBJ This account represents credit facilities obtained from the Export-Import Bank of Japan through
the Government of the Republic of Indonesia, via the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance projects in Indonesia. The
details of these facilities are as follows:
Credit Facility Purpose
Repayment Period EBJ-TSL I
To finance private sector projects included in Priority Scale List from or
approved by the Investment Coordinating Board.
July 7, 1988 - January 15, 2005 with the 1
st
installment on July 15, 1992. EBJ-TSL II
To finance private and state-owned company projects in sectors prioritized
by the Government and export-oriented. October 14, 1989 - October 1, 2004 with
the 1
st
installment on April 1, 1993. EBJ-TSL III
To finance private and state-owned company projects in sectors prioritized
by the Government and export-oriented. January 21, 1991 - July 15, 2005 with the
1
st
installment on January 15, 1994. EBJ-TSL IV
To finance projects which help to increase investments in the private
sector and which are export-oriented. January 28, 1992 - January 15, 2007 with
the 1
st
installment on July 15, 1995.
