ACCEPTANCE PAYABLES Insurance liabilities on insurance contracts
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2014 AND 2013
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5101 30. MARKETABLE SECURITIES ISSUED continued
Bonds continued
On 20 May 2011, the Subsidiary PT Mandiri Tunas Finance issued and registered Mandiri Tunas Finance Bonds VI Year 2011 Bonds VI at the Indonesian Stock Exchange formerly the Surabaya
Stock Exchange with a nominal value of Rp600,000 consisting of 4 four series:
Bonds Nominal Value
Fixed Interest Rate per Annum
Maturity Date
Series A 48,000
8.60 23 May 2012
Series B 52,000
9.60 19 May 2013
Series C 350,000
10.00 19 May 2014
Series D 150,000
10.70 19 May 2015
Mandiri Tunas Finance Bonds VI Year 2011 Series A for Rp48,000, Series B for Rp52,000 and Series C for Rp350,000 had been paid at the maturity date.
The trustee for Mandiri Tunas Finance Bonds VI Year 2011 is PT Bank Mega Tbk. On 31 December 2014, the rating for Continuous Bonds and Bonds VI is idAA double A.
Subordinated Notes Syariah Mudharabah
On 19 December 2011, PT Bank Syariah Mandiri BSM conducted a limited offering and sale of Sukuk Subordinated Notes Syariah Mudharabah Year 2011 “BSM subnotes” with a nominal value
Rp500,000. The period of these BSM subnotes is 10 ten years with call option on the 5
th
fifth year starting
the issuance date. The issuance of BSM Subnotes is conducted in 3 three phases, as follows:
- Phase I dated 19 December 2011 with a nominal amount of Rp75,000
- Phase II dated 19 December 2011 with a nominal amount of Rp275,000
- Phase III dated 19 December 2011 with a nominal amount of Rp150,000
Medium Term Notes MTN
On 24 January 2012, Subsidiary had issued and registered Medium Term Notes MTN III amounting to Rp200,000 with a fixed interest rate of 9.95 per annum, at Kustodian Sentral Efek Indonesia KSEI.
MTN III has 3 three years effective period starting from 2 February 2012 to 2 February 2015.
2014 and 2013 Interest
Maturity Tenor
Rate Type
Arranger Date
months Per Annum
Nominal Amount
Medium Term Notes III
PT UOB Kayhian Securities 2 February 2015
36 9.95
200,000 200,000
Subsidiaries had paid the interest of the above marketable securities issued in accordance to the interest payment schedule for the period from 1 January 2014 to 31 December 2014.
For the period from 1 January 2014 to 31 December 2014, Subsidiaries had fulfilled the covenants as stipulated in the agreements.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2014 AND 2013
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5102 31. ESTIMATED LOSSES ON COMMITMENTS AND CONTINGENCIES
a. Transactions of commitment and contingent in the ordinary course of business of Bank Mandiri
and its Subsidiaries activities that have credit risk are as follows:
2014 2013
Rupiah: Bank guarantees issued Note 53
26,853,713 23,777,965
Committed unused loan facilities granted Note 53 26,516,482
23,503,517 Outstanding irrevocable letters of credit Note 53
2,112,407 3,039,253
Standby letters of credit Note 53 1,709,373
1,626,837 Total Rupiah
57,191,975 51,947,572
Foreign currencies: Bank guarantees issued Note 53
34,359,188 32,641,571
Committed unused loan facilities granted Note 53 7,046,517
5,405,644 Outstanding irrevocable letters of credit Note 53
13,055,707 12,178,877
Standby letters of credit Note 53 10,180,077
7,025,509 Total foreign currencies
64,641,489 57,251,601
121,833,464 109,199,173
b. By Bank Indonesia’s collectibility:
2014 2013
Current 121,384,434
108,786,436 Special mention
367,646 352,792
Sub-standard 7,064
383 Doubtful
10,551 509
Loss 63,769
59,053 Total
121,833,464 109,199,173
Less: Allowance for impairment losses 196,793
200,501
Commitments and contingencies - net 121,636,671
108,998,672
c. Movements of allowance for impairment losses on commitments and contingencies:
2014 2013
Balance at beginning of year 200,501
189,085 Reversal during the year
5,313 10,784
Others 1,605
22,200
Balance at end of year 196,793
200,501
Includes effect of foreign currencies translation.
Management believes that the allowance for impairment losses on commitments and contingencies is adequate.
d. Information in respect of classification of “non-impaired” and “impaired” is disclosed in Note 61A. e. Deposits from customers and deposits from other banks pledged as collateral for bank guarantee
and irrevocable letters of credit as at 31 December 2014 and 2013 amounting to Rp1,771,213 and Rp1,216,930, respectively Notes 21c and 24c.