PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
88
29. SUBORDINATED LOANS continued
Two-Step Loans TSL a Nordic Investment Bank NIB
This account represents a credit facility obtained from NIB to the Government of the Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to
participating banks to finance projects in Indonesia. The details of these facilities are as follows:
Credit Facility Purpose
Repayment Period
Nordic Investment Bank IV Nordic Investment Bank III
To promote and finance high priority investments in Indonesia, primarily in the
private sector, or joint Indonesian and Nordic interests.
To promote and finance high priority investments in Indonesia, primarily in the
private sector, or joint Indonesian and Nordic interests.
April 15, 1997 - February 28, 2017 with the 1
st
installment on August 31, 2002. August 4, 1993 - August 15, 2008 with
the 1
st
installment on February 15, 1999.
The details of credit facilities from Nordic Investment Bank are as follows:
2008 2007
a Nordic Investment Bank IV NIB IV 181,089
202,394 b Nordic Investment Bank III NIB III
- 11,330
181,089 213,724
The interest rate on the NIB III and IV facility are based on a variable interest rate as determined by Bank Indonesia based on the prevailing average interest rates for the past six months for three-month
Certificates of Bank Indonesia. Bank has settled NIB III loan facility on August 15, 2008.
b ASEAN Japan Development Fund - Overseas Economic Cooperation Fund AJDF-OECF This account represents a credit facility obtained from AJDF-OECF to the Government of the Republic
of Indonesia, through the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance projects in Indonesia. The details of these facilities are as follows:
Credit Facility Purpose
Repayment Period
Pollution Abatement Equipment Program PAE
Small Scale Industry SSI To purchase equipment to prevent
pollution To finance small-scale industry
August 19, 1993 - August 19, 2013, with 1
st
installment on August 15, 1998 August 19, 1993 - August 19, 2013, with 1
st
installment on August 15, 1998
Details of outstanding credit facilities from the International ASEAN Japan Development Fund Overseas Economic Cooperation Fund AJDF-OECF are as follows:
2008 2007
a Pollution Abatement Equipment Program PAE 56,633
69,218 b Small Scale Industry SSI
1,872 2,288
58,505 71,506
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Years Ended December 31, 2008 and 2007 Expressed in millions of Rupiah, unless otherwise stated
89
29. SUBORDINATED LOANS continued
Two-Step Loans TSL continued b ASEAN Japan Development Fund - Overseas Economic Cooperation Fund AJDF-OECF
continued The drawdowns on the above AJDF-OECF facilities are repayable within twenty years after the first
drawdown inclusive of a 5-year grace period, in thirty semi-annual installments starting August 15, 1998 and ending on February 15, 2013.
The PAE facility is subject to a variable interest rate determined every six months based on the prevailing average interest rate for the past six months of the three-month Certificates of Bank
Indonesia, less 5 per annum.
The SSI facility is subject to a variable interest rate determined every six months based on the prevailing average interest rate for the six months of the three-month Certificates of Bank Indonesia,
less 2.5 per annum.
c ASEAN Japan Development Fund - Export - Import Bank of Japan AJDF-EBJ This account represents a credit facility obtained from the AJDF-EBJ to the Government of the
Republic of Indonesia, through the Ministry of Finance of the Republic of Indonesia , which re-lent the proceeds to participating banks to finance investment projects and working capital requirements of
small-scale industries. The credit facility, which amounts to Rp9,560, is repayable in 24 semi-annual installments within fifteen years after the date of the first drawdown inclusive of a 3-year grace period,
with the first installment starting on December 15, 1997. The facility is subject to an interest rate determined every six months based on the prevailing average
interest rate for the past six months for three-month Certificates of Bank Indonesia.
d Asian Development Bank ADB This account represents credit facilities from the ADB to the Government of the Republic of Indonesia,
through the Ministry of Finance of the Republic of Indonesia, which re-lent the proceeds to participating banks to finance projects in Indonesia. The details of these facilities are as follows:
Credit Facility Purpose
Repayment Period
ADB 1327-INO SF To finance micro Industry.
On January 15, 2005 - July 15, 2029 with 1
st
installment on January 15, 2005
ADB Perkebunan Nusantara XII and Nescoco Inti
To finance Government projects in funding credit for projects of plantation
industry. On February 15, 1989 - September
15, 2008 with 1
st
installment on March 15, 1995
The details of credit facilities from Asian Development Bank ADB are as follows:
2008 2007
a ADB Loan 1327 - INO 229,635
203,864 b ADB Perkebunan Nusantara XII Nescoco Inti
- 688
229,635 204,552
