PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 543
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013
Expressed in thousands of US Dollars, unless otherwise stated
23. LONG-TERM BANK LOANS continued
c. Syndicated Bank Loan
On 18 February 2011, SIS, as Borrower, entered into a Facility Agreement of US400,000 with a syndicate of banks consisting of The Hongkong and Shanghai Banking Corporation Limited, Oversea-Chinese Banking Corporation
Limited Singapore, United Overseas Bank Ltd. Co Singapore, DBS Bank Ltd., Sumitomo Mitsui Banking Corporation Singapore branch, PT Bank Mandiri Persero Tbk Singapore branch, The Bank of Tokyo-Mitsubishi UFJ Ltd.
Jakarta branch, PT ANZ Panin Bank, Credit Agricole Corporate and Investment Bank, PT Bank Ekonomi Raharja Tbk and Standard Chartered Bank Jakarta branch as Mandated Lead Arrangers, Chinatrust Commercial Bank Co Ltd.
Singapore branch and Societe Generale Singapore branch as Lead Arrangers, The Hongkong and Shanghai Banking Corporation Limited as Facility Agent, PT Bank DBS Indonesia as Security Agent and Oversea-Chinese
Banking Corporation Limited and PT Bank OCBC NISP Tbk as Account Banks. The Company, under this Facility Agreement, provides a corporate guarantee. This loan is collateralised by the mining service contract with Adaro. This
facility consists of a term loan facility of US300,000 and a revolving loan facility of US100,000. This loan facility has a final maturity date of 18 February 2018 and is payable on a quarterly basis from 2014. This
facility bears interest at LIBOR plus a certain percentage.
This loan facility was used for refinancing the Senior Credit Facility, financing capital expenditure, paying transaction costs and expenses associated with the facility and for other general corporate purposes.
In 2014, SIS drewdown US96,000 and made repayment of US67,250 on the revolving loan facility. As at 31 December 2014, the outstanding balance of this facility was US28,750 2013: USnil. This facility has a final
maturity date of 18 February 2018. In 2014, SIS made repayment of US60,000 of the term loan facility, therefore, at 31 December 2014, the outstanding
balance of this facility was US207,000 31 December 2013: US267,000, and is repayable according to the following schedule:
Payment schedule year
Payment amount
2016 US42,000
2017 US71,250
2018 US93,750
US207,000
In accordance with the loan agreement, SIS is required to maintain certain financial ratios, with which SIS was in compliance as at 31 December 2014. SIS is also required to comply with certain terms and conditions relating to its
Articles of Association, the nature of the business, corporate actions, financing activities and others. SIS is in compliance with the related terms and conditions.
d.
US160,000 Facility Agreement On 29 May 2012, MBP, as the Borrower, entered into a syndicated loan facility agreement with several banks, which
consisted of The Hongkong and Shanghai Banking Corporation Limited Jakarta branch, Oversea-Chinese Banking Corporation Limited, The Bank of Tokyo-Mitsubishi UFJ Ltd. Jakarta branch, DBS Bank Ltd., Sumitomo Mitsui
Banking Corporation, Mizuho Corporate Bank Ltd., CIMB Bank Berhad Singapore branch, PT Bank ANZ Indonesia and Standard Chartered Bank as Mandated Lead Arrangers, Chinatrust Commercial Bank Co Ltd. Singapore branch
as Lead Arranger, Oversea-Chinese Banking Corporation Limited as Facility Agent and The Bank of Tokyo-Mitsubishi UFJ Ltd. Jakarta branch as Security Agent. The facility consists of a term loan facility of US140,000 and a revolving
loan facility of US20,000, with interest rates at LIBOR plus a certain percentage. The facility was used for refinancing the intra-group loans from the Company, capital expenditure and other general corporate purposes. The Company acts
as the guarantor of this syndicated loan. The term loan facility is payable quarterly with the first installment due on 19 August 2015. Both the term loan facility
and the revolving loan facility have a maturity date of the seventh anniversary of the date of the loan agreement.
In April 2014, MBP paid the outstanding revolving loan facility amounting to US5,000 and re-drawdown the revolving loan facility amounting to US20,000 in September 2014. As at 31 December 2014, the outstanding balance
of the revolving loan facility was US20,000 31 December 2013: US5,000. Initial repayment and re-drawdown are allowed during the availability period.
195
AdARo ENERgy 2014 ANNuAl REPoRT
PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 544
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013
Expressed in thousands of US Dollars, unless otherwise stated
23. LONG-TERM BANK LOANS continued
d. US160,000 Facility Agreement continued
