PT XL AXIATA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2007, 2008 AND 2009; AND 31 MARCH 2009 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Page 33
13. LONG-TERM LOANS continued
Interest Total
Payment payment
Interest facility
schedule period
rate Security
- Facility 2A dated 23 March 2009
USD 123,579,208 Installment every
semiannually 6 months’ LIBOR
None 6 months
+ 0.35 margin 1 April 2009 -
+ SEK funding cost 1 October 2015
- Facility 2B dated 23 March 2009
a
USD 90,773,174 Installment every
semiannually Commercial Interest
None 6 months
Reference Rate 15 January 2010 -
CIRR 15 July 2016
+ 0.30 margin PT Bank Sumitomo Mitsui
Rp 800,000
December 2011 monthly
SBI + 1.50-2,00 None
Indonesia and January 2013
margin PT Bank DBS Indonesia
b
Rp 700,000
January 2011 monthly
SBI + 1.10 margin None
USD 50,000,000 April 2010
monthly 1 month’s LIBOR
None + 1,00 margin
The Bank of Tokyo - Mitsubishi UFJ, LTD
Rp 500,000 September 2012
monthly and SBI + certain
None two monthly
margin PT ANZ Panin Bank
Rp 250,000
September 2010 monthly
Cost of Fund None
+ 2.15 margin Standard Chartered Bank
USD 150,000,000 April - December
monthly Cost of Fund or
None 2010
1 month’s SIBOR + 1.05 - 2.00
margin Syndicated loan facilities I
c
USD 140,000,000 November 2011
monthly 1 month’s SIBOR
None + certain margin
PT Bank Mizuho Indonesia USD 50,000,000
January 2010 monthly
1 month’s LIBOR None
+ 0.95 margin DBS Bank Ltd.
USD 50,000,000 April 2010
monthly 1 month’s LIBOR
None + 1 margin
HSBC USD 50,000,000
January 2011 monthly
1 month’s SIBOR None
+ 2.25 margin J.P.Morgan Chase Bank, N.A.
USD 30,000,000 August and
monthly 1 month’s LIBOR
None September 2010
+ 1.00 margin Syndicated loan facilities II
d
Rp 1,600,000
October 2014 quarterly
3 months’ JIBOR None
+ 3.75 margin
a
The amount of USD 35,718,521 from Facilty 2B has been cancelled on 9 April 2010 refer to Note 35c.
b
In September and October 2008, the Company signed notices of assignment with PT Bank DBS Indonesia to assign and transfer the loan totalling USD 50,000,000 to DBS Bank Ltd., Singapore.
c
Syndicated loan consist of DBS Bank Ltd., Export Development Canada, The Bank of Tokyo-Mitsubishi UFJ, Ltd. and Chinatrust Commercial Bank, Ltd., with PT Bank DBS Indonesia acting as the facility agent.
d
Syndicated loan consist of PT Bank Negara Indonesia Persero Tbk and PT Bank CIMB Niaga Tbk, with PT Bank Negara Indonesia Persero Tbk acting as the facility agent. This credit agreement has been terminated in March
2010.
PT XL AXIATA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2007, 2008 AND 2009; AND 31 MARCH 2009 AND 2010
Expressed in millions of Rupiah, unless otherwise stated
Page 34
13. LONG-TERM LOANS continued
The Company is required to comply with certain conditions, such as hedging, limitations on certain asset sales or transfers, maintaining the majority ownership of the Companys shares directly or
indirectly by Axiata Group Berhad and maintaining its debt to EBITDA ratio not to exceed 4.5 to 1.0. Syndicated loan facilities I also requires the EBITDA to net interest expense ratio should not be less
than 3.0 to 1.0.
The above credit facilities were utilised for loan refinancing, working capital, and acquisition of fixed assets. At each reporting date, the Company was in compliance with the covenants of its long-term
loans.
14. LONG-TERM BONDS
31122007 31122008
31122009 Equivalent
Equivalent Equivalent
Original to million
Original to million
Original to million
Bonds currency
Rupiah currency
Rupiah currency
Rupiah
USD 350 million Notes USD 350,000,000
3,296,650 -
- -
- USD 250 million Notes
USD 250,000,000 2,354,750 USD 127,702,000
1,398,337 USD 59,432,000 558,661
Rp 1.5 trillion Notes full amount
Rp 1,500,000
1,500,000 Rp 1,500,000
1,500,000 Rp 1,500,000
1,500,000 7,151,400
2,898,337 2,058,661
Unamortised discount 53,884
19,089 8,510
7,097,516 2,879,248
2,050,151 Less: current portion
3,283,434 -
553,822 Long-term portion
3,814,082 2,879,248
1,496,329
31032009 31032010
Equivalent Equivalent
Original to million
Original to million
currency Rupiah
currency Rupiah
USD 250 million Notes USD 127,702,000
1,478,151 -
- Rp 1.5 trillion Notes full amount
Rp 1,500,000
1,500,000 Rp 1,500,000
1,500,000 2,978,151
1,500,000 Unamortised discount
17,834 3,277
2,960,317 1,496,723
Less: current portion -
- Long-term portion
2,960,317 1,496,723