PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
75
24. SECURITIES ISSUED
By Type and Currency:
2005 2004
Rupiah : Mandiri
travelers’ cheques
948,451 906,572 Syariah bonds
200,000 200,000 Others
564 688 1,149,015
1,107,260 Foreign Currency :
Floating Rate Notes FRN and Medium Term Notes MTN 2,753,515
2,814,852 Promissory
Notes 83,693
83,004 2,837,208
2,897,856 Total
3,986,223 4,005,116
Less: Unamortized discount 2,754
11,136 3,983,469
3,993,980
Details of FRNs and MTN are as follows: 2005
Interest Nominal
Amount Type
Maturity Tenor
Rate US
Equivalent ISIN No
Arranger Date
months Per Annum full amount
Rupiah MTN
Credit Suisse First XS0167272375
Boston Europe Ltd., London, Apr 22, 2008
60 7.00
291,247,264 2,862,961 UBS Hong Kong and
PT Mandiri Sekuritas Less: - Securities issued and held by Bank Mandiri and Subsidiaries
11,133,826 109,446
- Unamortized discount 280,165
2,754 279,833,273 2,750,761
2004
Interest Nominal
Amount Type
Maturity Tenor
Rate US
Equivalent ISIN No
Arranger Date
months Per Annum full amount
Rupiah FRN BDN
Merrill Lynch Securities, Nov 10, 2005 120
2.32 17,000,000
157,845 XS0061292263
Hong Kong MTN
Credit Suisse First XS0167272375
Boston Europe Ltd., London, Apr 22, 2008
60 7.00
297,392,025 2,761,284 UBS Hong Kong and
PT Mandiri Sekuritas Less: - Securities issued and held by Bank Mandiri and Subsidiaries
11,230,679 104,277 - Unamortized discount
1,199,354 11,136
301,961,992 2,803,716
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2005 and 2004 Expressed in millions of Rupiah, unless otherwise stated
76
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 issued Senior Notes amounting to US300,000,000 full amount at 99.482 of nominal value with a coupon of 7.00 per annum, 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, 2005 and 2004 decreased by
Rp86,039 or equivalent to US8,752,736 full amount and Rp24,215 or equivalent to US2,607,975 full amount, respectively.
On December 15, 2004, Bank Mandiri exercised the call option for its BDN FRNs Eurobond amounting to US17,000,000 full amount.
25. FUND BORROWINGS
2005 2004
Rupiah: Bank Indonesia a
735,004 943,089
PT Permodalan Nasional Madani Persero b 573,722
414,011 PT Bank Ekspor Indonesia Persero d
667,400 313,528
The Government of Republic of Indonesia c Note 48 350,000
- Others h Note 48
305,000 316,378
2,631,126 1,987,006
Foreign Currency: Trade Financing Facilities e
196,600 1,949,968
Direct Off-shore Loans f 1,445,010
529,245 PT Bank Ekspor Indonesia Persero d
- 903,310
Exchange Offer Loans g -
1,690,799 Others
h 6,895 6,165
1,648,505 5,079,487
4,279,631 7,066,493
As of December 31, 2005 and 2004, fund borrowings from related parties amounted to Rp350,000 and Rp126,378, respectively.
a Bank Indonesia
This account represents a credit liquidity facility obtained from Bank Indonesia BI, which was re- loaned to Bank Mandiri customers under the Government Credit Program. The management and
monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a state- owned company, based on Law No. 231999 dated May 17, 1999 regarding BI, BI Regulation No.
23PBI2000 dated February 1, 2000 and BI Regulation No. 520PBI2003 dated September 17, 2003 regarding the Hand-over of Management of Credit Liquidity of Bank Indonesia Under Credit
Program. This facility is subject to interest at rates ranging from 3 to 9 per annum and will mature on various dates through 2017. The details of this account are as follows:
