PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
86
29. SUBORDINATED LOANS continued
b. By Type:
2005 2004
Two-Step Loans TSL a
Nordic Investment Bank NIB 278,993
319,007 b
Export-Import Bank of Japan EBJ 29,294
81,755 c
Asian Development Bank ADB 227,569
228,667 d
International Bank for Reconstruction and Development IBRD
18,285 27,896
e ASEAN Japan Development Fund-Overseas
Economic Cooperation Fund AJDF-OECF 93,505
105,410 f
ASEAN Japan Development Fund-Export-Import Bank of Japan AJDF-EBJ
3,936 5,623
g Kreditanstalt fur Wiederaufbau, Frankfurt KfW
54,970 87,963
706,552 856,321
Bank Indonesia 2,473,859
2,498,859 Others
1,221,855 3,461,026
4,402,266 6,816,206
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.
The details of credit facilities from Nordic Investment Bank are as follows:
2005 2004
a Nordic Investment Bank II NIB II
- 7,379
b Nordic Investment Bank III NIB III
33,990 45,320
c Nordic Investment Bank IV NIB IV
245,003 266,308
278,993 319,007
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
87
29. SUBORDINATED LOANS continued
Two-Step Loans TSL continued a Nordic Investment Bank NIB continued
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 5 state-owned banks.
• Not be lower than the interbank interest rate to the Government of the Republic of Indonesia plus 1.75 per annum.
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 EBJ 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 that are 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 that are 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.
The details of credit facilities from the EBJ are as follows:
2005 2004
a Export-Import Bank of Japan I EBJ-TSL I
- 3,364
b Export-Import Bank of Japan II EBJ-TSL II
- -
c Export-Import Bank of Japan III EBJ-TSL III
- 29,568
d Export-Import Bank of Japan IV EBJ-TSL IV
29,294 48,823
29,294 81,755
