PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
53
16. LONG-TERM LOANS AND OTHER BORROWINGS continued
b. Bonds and notes continued i. Bonds
2010
Bonds Principal
Issuer Listed on
Issuance date
Maturity date
Interest payment
period Interest rate
per annum
Series B 1,995
The Company IDX
June 25, 2010 July 6, 2020
Quarterly 10.20
The bonds are secured by all of the Company’s assets, movable or non-movable, either existing or in the future Note 9c.ix. The underwriters of the bonds are
PT Bahana Securities “Bahana”, PT Danareksa Sekuritas, and PT Mandiri Sekuritas and the trustee is Bank CIMB Niaga.
The Company received the proceeds from the issuance of bonds on July 6, 2010. The funds received from the public offering of bonds net of issuance costs, were used to finance
capital expenditures which consisted of wave broadband bandwidth, softswitching, datacom, information technology and others and infrastructure backbone, metro network, regional metro
junction, internet protocol, and satellite system and to optimize legacy and supporting facilities fixed wireline and wireless.
As of December 31, 2016, the rating of the bonds issued by PT Pemeringkat Efek Indonesia Pefindo is idAAA stable outlook.
Based on the indenture trusts agreement, the Company is required to comply with all covenants or restrictions, including maintaining financial ratios as follows:
1. Debt to equity ratio should not exceed 2:1
2. EBITDA to finance costs ratio should not be less than 5:1
3. Debt service coverage is at least 125
As of December 31, 2016, the Company has complied with the above-mentioned ratios.
2015
Bonds Principal
Issuer Listed
on Issuance
date Maturity date
Interest payment period
Interest rate per annum
Series A 2,200
The Company IDX
June 23, 2015 June 23, 2022
Quarterly 9.93
Series B 2,100
The Company IDX
June 23, 2015 June 23, 2025
Quarterly 10.25
Series C 1,200
The Company IDX
June 23, 2015 June 23, 2030
Quarterly 10.60
Series D 1,500
The Company IDX
June 23, 2015 June 23, 2045
Quarterly 11.00
Total 7,000
The bonds are secured by all of the Company’s assets, movable or non-movable, either existing or in the future Note 9c.ix. The underwriters of the bonds are Bahana, PT Danareksa Sekuritas,
PT Mandiri Sekuritas, and PT Trimegah Sekuritas and the trustee is Bank Permata.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2016 and for the Year Then Ended
Figures in tables are expressed in billions of Rupiah, unless otherwise stated
54
16. LONG-TERM LOANS AND OTHER BORROWINGS continued
b. Bonds and notes continued i. Bonds continued
The Company received the proceeds from the issuance of bonds on June 23, 2015. The funds received from the public offering of bonds net of issuance costs, were used to finance
capital expenditures which consisted of wave broadband, backbone, metro network, regional metro junction, information technology application and support, and merger and acquisition of
some domestic and international entities. As of December 31, 2016, Corporate bond ratings provided by Pefindo is idAAA stable outlook.
Based on the indenture trusts agreement, the Company is required to comply with all covenants or restrictions, including maintaining financial ratios as follows:
1. Debt to equity ratio should not exceed 2:1 2. EBITDA to finance costs ratio should not be less than 4:1
3. Debt service coverage is at least 125 As of December 31, 2016, the Company has complied with the above-mentioned ratios.
ii. MTN
GSD
Notes Currency
Principal Issuance date
Maturity date Interest
payment period
Interest rate per annum
Series A Rp
220 November 14, 2014
November 14, 2019 Semi-annually
11 Series B
Rp 120
March 6, 2015 March 6, 2020
Semi-annually 11
Total 340
Based on Agreement of Issuance and Appointment of Monitoring and Insurance Agents of Medium Term Notes MTN PT Graha Sarana Duta Year 2014 dated November 13, 2014 as
covered by notarial deed No. 30 of Arry Supratno, S.H., GSD will issue MTN with the principle amount up to Rp500 billion in series.
PT Mandiri Sekuritas act as the Arranger, Bank Mandiri as the Monitoring and Insurance Agent, and PT K
ustodian Sentral Efek Indonesia “KSEI” as the payment agent and custodian. The funds obtained from MTN are used for investment projects.
Trade receivables, inventories, land and building related with investment development funded by MTN that are owned or will be owned by GSD, have been pledged as collateral for MTN
Notes 5, 6, and 9c.ix Under to the agreement, GSD is required to comply with all covenants or restriction including
maintaining financial ratios as follows : 1. Debt to equity ratio should not exceed 6.5:1
2. EBITDA to interest ratio should not be less than 1.2:1 3. Minimum current ratio is 120
4. Maximum leverage ratio is 450
As of December 31, 2016, GSD has complied with the above-mentioned ratios.
