PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND ITS SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS As of March 31, 2014 and for three months period then ended unaudited
Figures in tables are expressed in billions of rupiah, unless otherwise stated
57
18. CURRENT MATURITIES OF LONG-TERM LIABILITIES
a. Current maturities
March 31, December 31,
Notes 2014
2013
Bank loans 21
3,274 3,956
Obligations under finance leases 11
619 648
Bonds and notes 20
232 276
Two-step loans 19
206 213
Total 4,330
5,093
Refer to Note 37 for details of related party transactions. b. Long-term portion
Scheduled principal payments as of March 31, 2014 are as follows:
Year Notes
Total 2015 2016 2017 2018 Thereafter
Bank loans 21
5,928 2,570 1,110
756 563
929 Bonds and notes
20 3,061
1,025 41
- - 1,995
Two-step loans 19
1,614 181
211 213
189 820
Obligations under finance leases 11 4,228
400 540
561 551 2,176
Total 14,831
4,176 1,902 1,530 1,303
5,920 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.
March 31, 2014 December 31, 2013
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency in millions
equivalent in millions equivalent
Overseas banks Yen
8,447 940
8,447 979
US 33
375 35
429 Rp
- 505
- 507
Total 1,820
1,915 Current maturities Note 18a
206 213
Long-term portion Note 18b 1,614
1,702 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 March 31, 2014 and for three months period then ended unaudited
Figures in tables are expressed in billions of rupiah, unless otherwise stated
58
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 March 31, 2014, the Company complied with the above-mentioned ratios.
Refer to Note 37 for details of related party transactions. 20. BONDS AND NOTES
March 31, 2014 December 31, 2013
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
14 163
18 213
PT ZTE Indonesia “ZTE” US
11 129
11 136
Total 3,292
3,349 Current maturities Note 18a
232 276
Long-term portion Note 18b 3,061
3,073
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