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
59
20. BONDS AND NOTES continued
a. Bonds continued The bonds are secured by all of the Company’s assets, movable or non-movable, either existing
or in the future Note 11c.x. The underwriters of the bonds are Bahana, PT Danareksa Sekuritas and PT Mandiri Sekuritas and the trustee is PT CIMB Niaga Tbk.
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, are to be used for
increasing capital expenditure which consisted of: wave broadband bandwidth, softswitching, datacom, information technology and others, infrastructure backbone, metro network, regional
metro junction, internet protocol, and satellite system and optimizing legacy and supporting facilities fixed wireline and wireless.
As of March 31, 2014, 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 125.
As of March 31, 2014, the Company has complied with the above mentioned ratios. b. Promissory Notes
Interest Interest
Issuance Payment
payment rate
Supplier Currency Principal
date schedule
period per annum
PT Huawei US
0.3 June 19, 2009
Semi-annually Semi-annually
6 month LIBOR+2.5 January 11, 2014 -
June 23, 2016 PT ZTE
US 0.1
August 20, 2009 Semi-annually
Semi-annually 6 month LIBOR+1.5
Indonesia February 11, 2014 -
6 month LIBOR+2.5 “ZTE”
June 15, 2016
Based on Agreement of Frame Supply and Deferred Payment Arrangement between the Company and ZTE and PT Huawei, the promissory notes issued by the Company to ZTE and
PT Huawei are vendor financing facilities with no collateral covering 85 of Hand-over Report “Berita Acara Serah Terima” projects with ZTE and PT Huawei.
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
60
21. BANK LOANS
March 31, 2014 December 31, 2013
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency in millions
equivalent in millions equivalent
BRI Rp
- 2,963
- 3,035
Syndication of banks Rp
- 2,538
- 2,426
BNI Rp
- 1,277
- 1,305
ABN Amro Bank N.V. Stockholm “AAB
Stockholm” and Standard Chartered Bank
US 51
585 55
673 Japan Bank for International
Cooperation “JBIC” US
48 549
18 219
BCA Rp
- 524
- 858
Bank CIMB Niaga Rp
- 424
- 365
Bank Mandiri Rp
- 375
- 722
Bank Bukopin Rp
- 26
- 31
US 1
10 1
12 Others
Rp -
1 -
1 Total
9,272 9,647
Unamortized debt issuance cost 70
56 9,202
9,591 Current maturities Note 18a
3,274 3,956
Long-term portion Note 18b 5,928
5,635
Refer to Note 37 for details of related party transactions. Other significant information relating to bank loans as of March 31, 2014 is as follows:
Total facility Current
Interest Interest
in period
Payment payment rate
Borrower Currency billions payment schedule
period per annum Security
Syndication of banks July 29, 2008
a
The Company Rp
2,400 -
Semi-annually Quarterly
3 months None
BNI, BRI and 2010-2013
JIBOR+1.20 BJB
June 16, 2009
a
The Company Rp
2,700 338
Semi-annually Quarterly
3 months None
BNI and BRI 2011-2014
JIBOR+2.45 December 19, 2012
Dayamitra Rp
2,500 -
Semi annually Quarterly
3 months Property
BNI, BRI and 2014-2020
JIBOR+3.00 and
Bank Mandiri
k
equipment Note 11 and
trade receivables
Note 6 BCA
July 9, 2009
bc
Telkomsel Rp
4,000 333
Semi-annually Quarterly
3 months None
and July 5, 2010
bc
2009-2016 JIBOR+1.00
December 16, 2010
a
TII Rp
200 -
Semi-annually Quarterly
3 months None
2011-2015 JIBOR+1.25
Bank Mandiri July 9, 2009
bc
Telkomsel Rp
5,000 347
Semi-annually Quarterly
3 months None
and July 5, 2010
bc
2009-2016 JIBOR+1.00
BRI October 13, 2010
a
The Company Rp
3,000 -
Semi-annually Quarterly
3 months None
2013-2015 JIBOR+1.25
July 20, 2011
a
Dayamitra Rp
1,000 80
Semi-annually Quarterly
3 months Property
2011-2017 JIBOR+1.40
and equipment
Note 11
