PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2013 and for the Year Then Ended
Figures in tables are expressed in billions of rupiah, unless otherwise stated
59
18. CURRENT MATURITIES OF LONG-TERM LIABILITIES
a. Current maturities
Notes 2013
2012
Bank loans 21
3,956 4,475
Obligations under finance leases 11
648 510
Bonds and notes 20
276 440
Two-step loans 19
213 196
Total 5,093
5,621
Refer to Note 37 for details of related party transactions. b. Long-term portion
Scheduled principal payments as of December 31, 2013 are as follows:
Year Notes
Total 2015
2016 2017
2018 Thereafter
Bank loans 21
5,635 2,854
1,040 853
487 401
Bonds and notes 20
3,073 1,045
33 -
- 1,995
Two-step loans 19
1,702 215
218 220
196 853
Obligations under finance leases 11
4,321 525
535 552
545 2,164
Total 14,731
4,639 1,826
1,625 1,228
5,413 19. TWO-STEP LOANS
Two-step loans are unsecured loans obtained by the Government which are then re-loaned to the Company. The loans entered into up to July 1994 were recorded and payable in rupiah based on the
exchange rate at the date of drawdown. Loans entered into after July 1994 are payable in their original currencies and any resulting foreign exchange gain or loss is borne by the Company.
2013 2012
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency
in millions equivalent
in millions equivalent
Overseas banks Yen
8,447 979
9,215 1,031
US 35
429 40
382 Rp
- 507
- 574
Total 1,915
1,987 Current maturities Note 18a
213 196
Long-term portion Note 18b 1,702
1,791 Interest
Interest Payment
payment rate
Lenders Currency
schedule period
per annum
Overseas banks US
Semi-annually Semi-annually
4.00 Rp
Semi-annually Semi-annually
6.79 Yen
Semi-annually Semi-annually
3.10
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of December 31, 2013 and for the Year Then Ended
Figures in tables are expressed in billions of rupiah, unless otherwise stated
60
19. TWO-STEP LOANS continued
The loans are intended for the development of telecommunications infrastructure and supporting telecommunication equipment. The loans are payable in semi-annual installments and are due on
various dates through 2024.
Since 2008, the Company has used all facilities under the two-step loans program and the drawdown period for the two-step loans has expired.
The Company is required to maintain financial ratios as follows: a. Projected net revenue to projected debt service ratio should exceed 1.2:1 for the two-step loans
originating from the Asian Development Bank “ADB”. b. Internal financing earnings before depreciation and finance costs should exceed 20 compared
to annual average capital expenditures for loans originating from the ADB. As of December 31, 2013, the Company complied with the above-mentioned ratios.
Refer to Note 37 for details of related party transactions.
20. BONDS AND NOTES
2013 2012
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Bonds and notes Currency
in millions equivalent
in millions equivalent
Bonds Series A
Rp -
1,005 -
1,005 Series B
Rp -
1,995 -
1,995 Promissory Notes
PT Huawei US
18 213
46 445
PT ZTE Indonesia “ZTE” US
11 136
22 216
Medium Term Notes “MTN” PT Finnet Indonesia “Finnet”
Rp -
- -
8 Total
3,349 3,669
Current maturities Note 18a 276
440
Long-term portion Note 18b 3,073
3,229
a. Bonds
Interest Interest
Listed Issuance
Maturity payment
rate Bonds
Principal Issuer
on date
date period
per annum
Series A 1,005
The Company IDX
June 25, 2010 July 6, 2015
Quarterly 9.60
Series B 1,995
The Company IDX
June 25, 2010 July 6, 2020
Quarterly 10.20
Total 3,000
