PT BANK MANDIRI PERSERO AND SUBSIDIARIES
Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001
Expressed in millions of Rupiah, unless otherwise stated
-
85
-
30. SUBORDINATED LOANS Continued
2002 2001
b. By Type
Two-Step Loans TSLs a
Nordic Investment Bank NIB 399,035
432,945 b
Export-Import Bank of Japan EBJ 224,144
295,999 c
Asian Development Bank ADB 40,471
69,996 d
International Bank for Reconstruction and Development IBRD
54,888 73,320
e ASEAN Japan Development Fund Overseas
Economic Cooperation Fund AJDF-OECF 130,907
127,828 f
ASEAN Japan Development Fund -Export-Import Bank of Japan AJDF-EBJ
7,310 8,435
g Kreditanstalt fur Wiederaufbau, Frankfurt KfW 88,860
97,260 945,615
1,105,783 Bank Indonesia
1,578,859 2,064,859
Investment Fund Account RDI ex-Two-Step Loans 554,504
805,443 Others
3,279,987 2,414,116
6,358,965 6,390,201
Two-Step Loans a Nordic Investment Bank NIB
This account represents a credit facility obtained from NIB through the Government of the Republic of Indonesia, via 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 I
To promote and finance high priority investments in Indonesia, primarily in the
private sector, or joint Indonesian and Nordic interests.
March 23, 1988 - July 15, 2002 with the 1
st
installment on January 15, 1993.
Nordic Investment Bank II Nordic Investment
Bank III Nordic Investment
Bank IV 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. To promote and finance high priority
investments in Indonesia, primarily in the private sector, or joint Indonesian and
Nordic interests. December 10, 1990 - July 15, 2005
with the 1
st
installment on January 15, 1996.
August 4, 1993 - August 15, 2008 with the 1
st
installment on February 15, 1999.
April 15, 1997 - February 28, 2017 with the 1
st
installment on August 31, 2002.
PT BANK MANDIRI PERSERO AND SUBSIDIARIES
Notes to the Consolidated Financial Statements Continued December 31, 2002 and 2001
Expressed in millions of Rupiah, unless otherwise stated
-
86
-
30. SUBORDINATED LOANS Continued
Two-Step Loans Continued The annual interest rate on the NIB I facility is 1.75 above the interest rate charged by NIB to
the Government of the Republic of Indonesia or the interest rate charged on channeling loans to customers less 6, whichever is higher. The NIB I facility was fully paid in July 2002.
The interest rate on the NIB II facility is based on the past six months’ average interest rate for three-month Certificates of Bank Indonesia which should:
Not be higher than the average interest rate for three-month time deposits for the past six months in the five state-owned banks.
Not be lower than the interbank interest rate to the Government of the Republic of Indonesia plus 1.75.
The interest rate on the NIB III facility was based on the previous six months’ 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.
The interest rate on the NIB IV facility was based on the previous six months’ 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.
b Export-Import Bank of Japan EBJ This account represents credit facilities obtained from the Export-Import Bank of Japan through
the Government of the Republic of Indonesia, via 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 EBJ-TSL I
To finance private sector projects included in Priority Scale List from or
approved by the Investment Coordinating Board.
July 7, 1988 - January 15, 2005 with the 1
st
installment on July 15, 1992. EBJ-TSL II
To finance private and state-owned company projects in sectors prioritized
by the Government and export- oriented.
October 14, 1989 - October 1, 2004 with the 1
st
installment on April 1, 1993. EBJ-TSL III
To finance private and state-owned company projects in sectors prioritized
by the Government and which are export-oriented.
January 21, 1991 - July 15, 2005 with the 1
st
installment on January 15, 1994. EBJ-TSL
IV To finance projects which help to
increase investments in the private sector and which are export-oriented.
January 28, 1992 - January 15, 2007 with the 1
st
installment on July 15, 1995. EBJ-TSL
V To finance small-scale industry,
primarily the manufacturing sector and export-oriented.
May 27, 1992 - March 15, 2003 with the 1
st
installment on September 15, 1994.
