PT ADARO ENERGY Tbk AND SUBSIDIARIES Schedule 544
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS 31 DECEMBER 2014 AND 2013
Expressed in thousands of US Dollars, unless otherwise stated
23. LONG-TERM BANK LOANS continued
d. US160,000 Facility Agreement continued
In November 2014, MBP also paid the installments of the term loan facility amounting to US36,000. As at 31 December 2014, the outstanding balance of the term loan facility was US104,000 31 December 2013:
US140,000, and is repayable according to the following schedule:
Payment schedule year Payment amount
2017 US28,000
2018 US36,000
2019 US40,000
US104,000
In accordance with the loan agreement, MBP is required to maintain certain financial ratios, with which MBP was in compliance as at 31 December 2014. MBP is also required to comply with certain terms and conditions relating to its
Articles of Association, the nature of the business, dividends, corporate actions, financing activities and other matters. MBP is in compliance with the related terms and conditions.
e. Syndicated Loan
On 2 November 2007, Adaro and Coaltrade, as the Borrowers, entered into a syndicated loan facility agreement with several foreign banks the “Lenders”, which consisted of DBS Bank Ltd., Standard Chartered Bank Singapore
branch, Sumitomo Mitsui Banking Corporation Singapore branch “SMBC”, The Bank of Tokyo-Mitsubishi UFJ Ltd. Singapore branch and United Overseas Bank Ltd. Singapore and Labuan branch, for which DBS Bank Ltd.
acted as the facility agent. Based on the agreement, the Lenders agreed to grant bank loan facilities of US750,000, of which Adaro and Coaltrade obtained facilities of US550,000 and US200,000, respectively. These facilities consisted
of a term loan facility of US650,000 and a revolving loan facility of US100,000 with interest at the LIBOR plus a certain percentage. These facilities were used to refinance certain existing loans of Adaro. Based on the amended
agreement dated 25 March 2010, the Company, IBT and the Borrowers collectively hereinafter referred to as the “Guarantors”, act as the guarantors of this syndicated loan.
On 30 September 2010, the Borrowers, the Guarantors and DBS Bank Ltd., as the facility agent, entered into an amendment agreement to amend the maturity date of the term loan facility to 7 December 2015 and all amounts
outstanding under the revolving loan facility shall be deemed to be amounts outstanding under the term loan facility. The margin of interest was increased by a certain percentage. The effective date of this amendment agreement is 7
October 2010.
The payment schedule for the outstanding term loan as at 31 December 2014, is as follows:
Year Adaro
Coaltrade Total
2015 US65,865
US21,635 US87,500
In accordance with the loan agreements, Adaro, IBT and Coaltrade the “Primary Operating Companies” are required to maintain certain financial ratios, with which the Primary Operating Companies were in compliance as at 31
December 2014. The Primary Operating Companies are also required to comply with certain terms and conditions relating to their Articles of Association, the nature of business, dividends, corporate actions, financing activities and
other matters. The Primary Operating Companies are in compliance with the terms and conditions.
f. US40,000 Facility Agreement
