PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
80
25. FUND BORROWINGS
2008 2007
Rupiah: PT Permodalan Nasional Madani Persero a
241,974 326,122
The Government of Republic of Indonesia c Note 47a 240,000
280,000 Bank Indonesia c
214,337 392,150
Others f 710,000
625,743 Total Rupiah
1,406,311 1,624,015
Foreign Currency: Direct Off - shore Loans d
4,065,700 845,370
Trade financing facilities e 3,899,497
6,875,676 Total Foreign Currency
7,965,197 7,721,046
Total 9,371,508
9,345,061
As of December 31, 2008 and 2007, fund borrowings from related parties amounted to Rp240,000 and Rp280,000, respectively Note 47a.
a PT Permodalan Nasional Madani Persero
This account represents credit facilities obtained from PT Permodalan Nasional Madani Persero to Bank Mandiri and Bank Sinar Harapan Bali BSHB. The outstanding loan balance as of December
31, 2008 for Bank Mandiri and BSHB are Rp219,050 and Rp22,925, respectively. These facilities are subjected to interest at 7 per annum. The loan terms and installment reflects the terms of the
individual loan agreement, that will matured on December 2013. Bank Mandiri re-lent the proceeds to the Members of Primary Cooperation Kredit Koperasi Primer kepada Anggotanya [KKPA].
b 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 amendment 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. The first installment paid amounted to
Rp70,000 on December 10, 2007. This facility will mature in December 2019.
c Bank Indonesia This account represents a credit liquidity facility obtained from Bank Indonesia BI, which was re-
loaned to Bank Mandiri customers under the Government Credit Program. The management and monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a state-
owned company, based on Law No. 231999 dated May 17, 1999 regarding BI, BI Regulation No. 23PBI2000 dated February 1, 2000 and BI Regulation No. 520PBI2003 dated September 17,
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 to 9 per annum and will mature
on various dates through 2017. The details of this account are as follows:
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
81
25. FUND BORROWINGS continued
c Bank Indonesia continued
2008 2007
Rupiah: Small-Scale Working Capital Loans KKPA
135,971 285,484
Small-Scale Investment Loans KIK 52,889
74,132 Investment Loans KI
25,477 32,534
214,337 392,150
d Direct Off-shore Loans The details of direct off-shore loans are as follows:
2008 2007
Deutsche Bank International Asia Ltd, Singapore 3,270,000
- Syndication of Oversea - Chinese Banking Corporation,
United Overseas Bank Limited, Intesa San Paolo S.P.A., DZ Bank AG Deutsche Zentral - Genossenschaftsbank, Bank Muscat S..A.O.G.
599,500 563,580
Sumitomo Mitsui Banking Corporation, Singapore 196,200
281,790 4,065,700
845,370
Borrowing from Deutsche Bank International Asia Ltd
,
Singapore bears interest rate at three- month LIBOR plus an applicable margin. Syndicated borrowing from Oversea - Chinese Banking
Corporation, United Overseas Bank Limited, Intesa San Paolo S.P.A., DZ Banki AG Deutsche Zentral - Genossenschaftsbank, Bank Muscat S.A.O.G. bear interest at three-month SIBOR plus
an applicable margin. Borrowing from Sumitomo Mitsui Banking Corporation, Singapore bear interest at three-month SIBOR plus an applicable margin. These borrowings will be fully paid on
maturity date.
e Trade Financing Facilities Trade financing facilities represent short-term borrowings with tenors between 180 to 365 days and
bear interest at LIBOR or 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:
The details of trade financing facilities are as follows:
2008 2007
Wachovia Bank NA, United States of America 708,500
704,475 Bank of New York Mellon, Singapore before Bank of New York
654,000 751,440
ABN AMRO Bank NV, Singapore 574,997
610,545 JP Morgan Chase NA, Singapore
545,000 939,300
Bank of Nova Scotia, Hong Kong 490,500
- Dresdner Bank, AG, Frankfurt
272,500 140,895
Credit Suisse, Zurich 218,000
- Bank of Nova Scotia, Singapore
218,000 469,650
Oversea-Chinese Banking Corporation Limited, Singapore 218,000
234,825 ING Bank, Singapore
- 563,580
Credit Suisse, Singapore -
469,650 Standard Chartered Bank, Singapore
- 469,650
Commerzbank AG, Frankfurt -
375,720 DBS Bank, Ltd., Singapore
- 281,790
American Express Bank, New York -
281,790 National Bank of Dubai
- 234,825
Bank of America, San Francisco -
187,860 DZ Bank AG Deutsche Zentral - Genossenschaftsbank, Singapore
- 159,681
3,899,497 6,875,676