PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
87
24. SECURITIES ISSUED continued
December 31, 2003
Interest Nominal Amount
Type Maturity
Tenor Rate
US Equivalent
ISIN No Arranger
Date months Per Annum
full amount Rupiah
FRN BDN Merryll Lynch Securities,
Nov 10, 2005 120 2.05
17,000,000 143,225
XS0061292263 Hong Kong
FRN Eurobond Hong Kong and Shanghai Banking
Dec 13, 2006 60
6.97 125,000,000
1,053,125 XS0139834534
Corporation Ltd., Hong Kong Dec 13, 2004
Callable Date MTN
Credit Suisse First XS0167272375
Boston Europe Ltd., London Apr 22, 2008
60 7.00
299,461,390 2,522,962
UBS Hong Kong and PT Mandiri Sekuritas
441,461,390 3,719,312
Less: Securities issued and held by Bank Mandiri and Subsidiaries 10,002,611
84,272 431,458,779
3,635,040 Less: Unamortized discount
1,377,925 11,609
430,080,854 3,623,431
April 30, 2003
Interest Nominal Amount
Type Maturity
Tenor Rate
US Equivalent
ISIN No Arranger
Date months Per Annum
full amount Rupiah
FRN BDN Merryll Lynch Securities,
Nov 10, 2005 120 2.05
17,000,000 147,483
XS0061292263 Hong Kong
FRN Eurobond Hong Kong and Shanghai Banking
Dec 13, 2006 60
6.97 125,000,000
1,084,438 XS0139834534
Corporation Ltd., Hong Kong Dec 13, 2004
Callable Date MTN
Credit Suisse First XS0167272375
Boston Europe Ltd., London, Apr 22, 2008
60 7.00
302,993,466 2,628,620
UBS Hong Kong and PT Mandiri Sekuritas
444,993,466 3,860,541
Less: Securities issued and held by Bank Mandiri and Subsidiaries 7,494,763
65,021 437,498,703
3,795,520 Less: Unamortized discount
1,778,369 15,428
435,720,334 3,780,092
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
December 31, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
88
24. SECURITIES ISSUED continued
On October 31, 2003, Bank Syariah Mandiri, a subsidiary, issued five-year Syariah bonds amounting to Rp200,000 which mature on October 31, 2008. The profit sharing on such bonds is payable every
3 months with the first payment being made on January 30, 2004. The profit on sharing will be taken from the margin revenue of Bank Syariah Mandiri obtained from its quarterly Murabhahah portfolio.
Bank Mandiri launched a Debt Issuance Program of Medium-Term Notes MTNs for an aggregate amount of US1,000,000,000 full amount on April 21, 2003, through its Cayman Islands branch.
Under the program, subject to compliance with all relevant laws and regulations, the Bank is allowed to issue the MTNs from time to time. The aggregate amount of the outstanding MTNs issued is not
allowed to exceed US1,000,000,000 full amount or equivalent in other foreign currencies at any one time. MTNs may be Senior Notes or Subordinated Notes and may mature on various tenors
within one month to 30 years. The notes may be either bearer notes or registered notes and sold in minimum nominal amounts of US1,000 full amount and have registered serial numbers. The notes
may be sold and offered on a discounted rate basis with zero-coupon bonds or fixed rate, floating rate, dual currency note provision or index-linked, depending on the series offered. The MTNs issued
were not guaranteed through personal and corporate guarantees or assets guarantees provided by Bank Mandiri. The initial listing and trading of the notes was on the Singapore Stock Exchange.
During the first stage of the program, Bank Mandiri issued Senior Notes amounting to US300,000,000 full amount at 99.482 of nominal value with a coupon of 7.00 per annum and
which mature on April 22, 2008. The US300 million MTNs are hedged with an interest rate swap instrument. The MTNs are recognized at their fair value as adjusted by the hedging transaction,
which fair value adjustment as of December 31, 2004 and 2003, and April 30,2003 decreased by US2,607,975 full amount or equivalent to Rp24,215, and US538,610 full amount or equivalent
to Rp4,538 and increased by US2,993,466 full amount or equivalent to Rp25,970, respectively Note 10.
On December 15, 2004, Bank Mandiri exercised the call option for its FRNs Eurobond amounting to 125,000,000 full amount.
