ACCEPTANCE PAYABLES Fund Borrowings
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 582 25. MARKETABLE SECURITIES ISSUED continued
Foreign currency
2007
Interest Nominal Amount
Type Maturity
Tenor Rate
USD Rupiah
ISIN No Arranger
Date months
Per Annum full amount
equivalent MTN
Credit Suisse First XS0167272375
Boston Europe Ltd., London, 22 April 2008
60 7.00
299,466,824 2,812,892
UBS Hong Kong and PT Mandiri Sekuritas
Less: - Marketable securities issued and held by
Bank Mandiri and Subsidiaries 10,017,641
94,096 289,449,183
2,718,796 - Unamortised discount
96,115 903
289,353,068 2,717,893
Bank Mandiri has issued MTN amounting to USD300,000,000 full amount with interest of 7.00 per annum at price of 99.482 and with a maturity date of 22 April 2008. The MTN with nominal value of
USD300,000,000 full amount has been hedged with an interest rate swap instrument. The MTN is presented at fair value as a result of adjustment from the hedging transaction. This MTN matured in
April 2008 and has been fully paid amounting to USD300,000,000 full amount by the Bank.
Sharia Bonds
On 31 October 2003, Bank Syariah Mandiri, a Subsidiary, issued Sharia Bonds Mudharabah that has 5 five years period, with nominal value Rp200,000 and profit sharing that is paid every 3 three months,
first profit sharing payment was on 30 January 2004 and matured on 31 October 2008. Quarterly profit sharing paid was taken from margin income of Bank Syariah Mandiri that came from murabahah
portfolio earned from 1 one quarter. The bonds have been fully paid at the maturity.
On 31 January 2007, Bank Syariah Mandiri conducted a limited offering and selling of Subordinated Notes Sharia Mudharabah 2007 Subnotes Bank with maximum nominal value of Rp200,000. The
Subnotes Bank has 10 years tenor with a call option on the fifth year after the issuance date. The indicated Nisbah for Subnotes Bank holder is equivalent with 21.93 per annum from profit sharing.
The Subnotes Bank’s profit sharing is paid quaterly since the issuance date. On 5 April 2007, the Subnotes Bank has been realised for Rp200,000 and will be matured in 2017.
Short-Term Marketable Securities
On 6 November 2008 PT Mandiri Sekuritas, a Subsidiary, issued short-term marketable securities with a fixed interest rate of 16.00 per annum, payable monthly commencing since 30 November 2008. The
short term marketable securities have nominal value Rp37,400 and issued at par. The short-term marketable securities already matured on 28 February 2009 and has been fully paid.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2009, 2008 AND 2007
Expressed in millions of Rupiah, unless otherwise stated
Appendix 583 26. FUND BORROWINGS
2009 2008
2007
Rupiah: a The Government of the Republic of Indonesia Note 48a
200,000 240,000
280,000 b PT Permodalan Nasional Madani Persero
180,031 241,974
326,122 c Bank Indonesia
135,822 214,337
392,150 f Others
610,003 710,000
625,743 1,125,856
1,406,311 1,624,015
Foreign currencies: d Direct Off - shore Loans
2,818,500 4,065,700
845,370 e Trade financing facilities
- 3,899,497
6,875,676 2,818,500
7,965,197 7,721,046
3,944,356 9,371,508
9,345,061
As at 31 December 2009, 2008 and 2007, fund borrowings from related parties amounted to Rp200,000, Rp240,000 and Rp280,000, respectively Note 48a.
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.
5-662PB.72005 dated 13 May 2005 and amendment No. AMA-30KP-022DP32006 dated 24 August 2006, each of them is regarding amendment of loan agreement between The
Government of 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 re-lent by Bank Mandiri to the small and micro businesses
which procedures, arrangements and requirements of the re-lending program are outlined in the Decision Letter of Ministry of Finance No. 40KMK.062003 dated 29 January 2003 regarding Credit
Financing Facilities for Small and Micro Businesses and amended with Decision Letter of Ministry 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 at 10 March, 10 June, 10 September and 10 December based on the latest SBI auction rate. The repayment of the borrowing will be made in
five 5 semi-annual installments and the first installment will be due on 10 December 2007. This facility will mature in December 2019.
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 2009, 2008 and 2007 for Bank Mandiri are Rp153,507, Rp219,050 and Rp326,122
and for BSHB are Rp26,524, Rp22,924 and RpNil, respectively. These facilities are subjected to interest at 7.00 per annum. The loan terms and installment reflect the terms of the individual loan
agreement, that will mature in December 2013. Bank Mandiri re-lent the proceeds to the Members of Primary Cooperation Kredit Koperasi Primer kepada Anggotanya [KKPA].