PT XL AXIATA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2007, 2008 AND 2009; AND 31 MARCH 2009 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Page 34
13. LONG-TERM LOANS continued
The Company is required to comply with certain conditions, such as hedging, limitations on certain asset sales or transfers, maintaining the majority ownership of the Companys shares directly or
indirectly by Axiata Group Berhad and maintaining its debt to EBITDA ratio not to exceed 4.5 to 1.0. Syndicated loan facilities I also requires the EBITDA to net interest expense ratio should not be less
than 3.0 to 1.0.
The above credit facilities were utilised for loan refinancing, working capital, and acquisition of fixed assets. At each reporting date, the Company was in compliance with the covenants of its long-term
loans.
14. LONG-TERM BONDS
31122007 31122008
31122009 Equivalent
Equivalent Equivalent
Original to million
Original to million
Original to million
Bonds currency
Rupiah currency
Rupiah currency
Rupiah
USD 350 million Notes USD 350,000,000
3,296,650 -
- -
- USD 250 million Notes
USD 250,000,000 2,354,750 USD 127,702,000
1,398,337 USD 59,432,000 558,661
Rp 1.5 trillion Notes full amount
Rp 1,500,000
1,500,000 Rp 1,500,000
1,500,000 Rp 1,500,000
1,500,000 7,151,400
2,898,337 2,058,661
Unamortised discount 53,884
19,089 8,510
7,097,516 2,879,248
2,050,151 Less: current portion
3,283,434 -
553,822 Long-term portion
3,814,082 2,879,248
1,496,329
31032009 31032010
Equivalent Equivalent
Original to million
Original to million
currency Rupiah
currency Rupiah
USD 250 million Notes USD 127,702,000
1,478,151 -
- Rp 1.5 trillion Notes full amount
Rp 1,500,000
1,500,000 Rp 1,500,000
1,500,000 2,978,151
1,500,000 Unamortised discount
17,834 3,277
2,960,317 1,496,723
Less: current portion -
- Long-term portion
2,960,317 1,496,723
PT XL AXIATA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2007, 2008 AND 2009; AND 31 MARCH 2009 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Page 35
14. LONG-TERM BONDS continued
Interest Issuance
Payment Interest
Bonds date
Issuer Listed on
Maturity period
rate
USD 350 million Notes 27 January 2004 Excelcomindo
Singapore 27 January
semiannually 8
Finance Exchange
2009 Company B.V.
Securities Trading, Ltd.
USD 250 million Notes 18 January 2006 Excelcomindo
Singapore 18 January
semiannually 7.125
Finance Exchange
2013 Company B.V.
Securities Trading, Ltd.
Rp 1.5 trillion Notes 26 April 2007
PT XL Axiata Bursa
26 April quarterly
10.35 full amount
Tbk Efek
2012 Indonesia
Bonds
Bonds
ratings Rater
Trustee Security
USD 350 million Notes BB- and Ba2
Standard and Poors Bank of New York
None Rating Services and
Moodys Investors Service, Inc.
USD 250 million Notes BB- and Ba2
Standard and Poors Bank of New York
None Rating Services and
Moodys Investors Service, Inc.
Rp 1.5 trillion Notes idAA - and AA -idn
PEFINDO and PT Bank Permata
None full amount
FITCH Ratings Tbk
The Company is required to comply with certain conditions, such as limitations on asset sales and or leaseback transactions, and maintain its debt to EBITDA ratio not to exceed 4.5 to 1.0 over the period
of borrowings.
On 25 January 2008, Excelcomindo Finance Company B.V. bought back the USD 350 million Notes at a price of 100 of the nominal value.
On June 2008, April 2009, December 2009 and January 2010, the Company bought back all of the USD 250 million Notes amounting to USD 122,298,000, USD 3,635,000, USD 64,635,000 and
USD 59,432,000 at price of 101, 88.24 - 89.24, 102.75 - 103.375 and 103.563 of the nominal value, respectively.
As at each reporting date, the Company was in compliance with the covenants of its IDR and USD Notes.
15. PROVISIONS
31122007 31122008
31122009 31032009
3103 2010
Estimated liabilities for assets restoration
- 142,066
178,466 153,186
185,722 Post-employment benefits
66,228 76,912
99,956 83,416
106,704 Other long-term employee benefits
- -
20,528 -
21,856 66,228
218,978 298,950
236,602 314,282
