PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued JUNE 30, 2005 AND 2006, AND FOR THE SIX MONTHS PERIOD ENDED
JUNE 30, 2005 AND 2006 Figures in tables are presented in millions of Rupiah, unless otherwise stated
- 58
22. TWO-STEP LOANS
continued The details of two-step loans obtained from overseas banks as of June 30, 2005 and 2006 are as
follows:
2005 2006
2005 2006
U.S. Dollar 4.00
- 6.81
4.00 -
6.45 2,365,873
1,961,242 Rupiah
8.30 -
10.36 8.54 -
11.64 1,917,480
1,688,182 Japanese Yen
3.10 3.10
1,323,789 1,147,458
Total 5,607,142
4,796,882
Interest Rate Outstanding
Currencies
The loans are intended for the development of telecommunications infrastructure and supporting equipment. The loans are repayable in semi-annual installments and are due on various dates through
2024.
Details of two-step loans obtained from a consortium of contractors as of June 30, 2005 and 2006 are as follows:
2005 2006
2005 2006
Japanese Yen 3.20
3.20 99,460
60,581
Currencies Interest Rate
Outstanding
The consortium of contractors consists of Sumitomo Corporation, PT NEC Nusantara Communications and PT Humpuss Elektronika SNH Consortium. The loans were obtained to finance the second
digital telephone exchange project. The loans are repayable in semi-annual installments and are due on various dates through June 15, 2008.
Two-step loans which are payable in Rupiah bear either a fixed interest rate, a floating rate based upon the average interest rate on 3-month Certificates of Bank Indonesia during the six-months preceding
the installment due date plus 1, or a floating interest rate offered by the lenders plus 5.25. Two-step loans which are payable in foreign currencies bear either a fixed rate interest or the floating interest
rate offered by the lenders, plus 0.5. As of June 30, 2006, the Company has used all facilities under the two-step loan program and the
draw-down 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 1.5:1 and 1.2:1 for two-step
loans originating from World Bank and Asian Development Bank “ADB”, respectively. b. Internal financing earnings before depreciation and interest expenses should exceed 50 and
20 compared to capital expenditures for loans originating from World Bank and ADB, respectively.
PERUSAHAAN PERSEROAN PERSERO P.T. TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS continued JUNE 30, 2005 AND 2006, AND FOR THE SIX MONTHS PERIOD ENDED
JUNE 30, 2005 AND 2006 Figures in tables are presented in millions of Rupiah, unless otherwise stated
- 59
As of June 30, 2006, the Company complied with the above mentioned ratios.
23. NOTES AND BONDS
