PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 599 26. MARKETABLE SECURITIES ISSUED Continued
Subordinated Notes Syariah Mudharabah
On 31 January 2007, PT Bank Syariah Mandiri BSM conducted a limited offering and sale of Subordinated Notes of Mudharabah Syariah 2007 “BSM’s Subnotes” amounting to Rp200,000. The
period of these subnotes is 10 ten years with call option on the 5
th
fifth year starting from the issuance date. The issuance of BSM Subnotes is conducted in 3 three phases, as follows:
- Phase I dated 31 January 2007 with nominal amount of Rp105,000
- Phase II dated 27 February 2007 with nominal amount of Rp65,000
- Phase III dated 5 April 2007 with nominal amount of Rp30,000
On 19 December 2011, BSM conducted a limited offering and sale of Sukuk Subordinated Notes of Mudharabah Bank Syariah Mandiri 2011 “BSM subnotes” amounting to Rp500,000. The period of
these subnotes is 10 ten years with call option on the 5
th
fifth year since the issuance date. The issuance of BSM’s 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
Subsidiaries have paid the interest of the above marketable securities issued in accordance to the interest payment schedule for the period 1 January 2011 to 31 December 2011.
For the period from 1 January 2011 to 31 December 2011, Subsidiaries have fulfilled covenants as stipulated in the agreements unaudited.
Included in marketable securities issued above are transactions with related parties as at 31 December 2011 and 2010 amounting to Rp203,000 and RpNil, respectively refer to Note 51.
27. FUND BORROWINGS
2011 2010
Rupiah: Related parties Note 51
a The Government of the Republic of Indonesia 200,000
200,000 b PT Permodalan Nasional Madani Persero
69,406 95,056
f Others 708,150
- 977,556
295,056 Third parties
c Bank Indonesia 7,279
27,121 f Others
1,818,201 910,256
1,825,480 937,377
Total Rupiah 2,803,03 6
1,232,433 Foreign currencies:
Third parties d Direct Off-shore Loans
4,792,88 4 3,906,855
e Trade financing facilities 4,107,578
495,550 Total foreign currencies Note 57B.v
8,900,46 2 4,402,405
11,703,498 5,634,838
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
31 DECEMBER 2011 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Appendix 5100 27. FUND BORROWINGS continued
a The Government of the Republic of Indonesia This account represents fund borrowings obtained from the Government of the Republic of
Indonesia based on agreement No. KP-022DP32004 dated 14 May 2004 which was amended with
agreement No.
AMA-7KP-022DP32004 dated
15 December
2004 and
letter No. S-662PB.72005 dated 13 May 2005 and amendment agreement No. AMA-30KP-
022DP32006 dated 24 August 2006 and letter No. S-3207PB2008 dated 21 April 2008, each of them is regarding Amendment of Loan Agreement between the Government of the Republic of
Indonesia and PT Bank Mandiri Persero Tbk. No. KP-022DP32004 dated 14 May 2004 and the Approval of Amendment of Loan Agreement between the Government of the Republic of
Indonesia and Bank Mandiri in relation to the Credit Financing for Small and Micro Businesses. This borrowing is then lent by the Bank to small and micro businesses where the procedures,
arrangements and requirements of the re-lending program are outlined in the Decision Letter of Minister of Finance No. 40KMK.062003 dated 29 January 2003 regarding Credit Financing
Facilities for Small and Micro Businesses and amended with Decision Letter of Minister of Finance No. 74KMK.062004 dated 20 February 2004. This facility bears interest at 3-months SBI rate
which will be determined every three months on 10 March, 10 June, 10 September and 10 December based on the latest SBI auction rate. The Bank has made 5 five installment payments
with the first installment paid on 10 December 2007. For the remaining outstanding balance of Rp200,000, the installment payment will start in December 2017 and will mature in December
2019.
b PT Permodalan Nasional Madani Persero This account represents fund borrowing obtained from PT Permodalan Nasional Madani Persero
to Bank Mandiri and Bank Sinar Harapan Bali BSHB. The outstanding loan balance as at 31 December 2011 and 2010 for Bank Mandiri are Rp52,504 and Rp84,421, respectively, and for
BSHB are Rp16,902 and Rp10,635, respectively. These facilities bear interest rate at 7.00 per annum. The fund borrowing terms and payment schedule depend on the terms of the individual
loan agreement, the latest will mature in December 2013. Bank Mandiri then lent the proceeds to the members of Primary Cooperation Kredit Koperasi Primer kepada Anggotanya [KKPA].
c Bank Indonesia This account represents credit liquidity facility obtained from Bank Indonesia BI, which was then
lent to Bank Mandiri’s debtors under the Government Credit Program. The administration and monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a
state-owned company, based on Law No. 231999 dated 17 May 1999 regarding BI, BI Regulation No. 23PBI2000 dated 1 February 2000 and BI Regulation No. 520PBI2003 dated 17
September 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 3.75 to 7.00 per
annum and will mature on various dates up to 2013. The details of this account are as follows:
2011 2010
Small-Scale Investment Loans KIK 7,279
18,265 Loans to the Members of Primary Cooperation KKPA
- 8,856
7,279 27,121
