PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2016 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated
137
30. MARKETABLE SECURITIES ISSUED
By type and currencies:
December 31, December 31, 2016
2015
Rupiah: Related parties Note 55
Bonds 3,594,000
537,750 Subordinated notes sharia mudharabah
58,000 50,000
Medium-term notes MTN 10,000
- Total
3,662,000 587,750
Third parties Bonds
4,669,000 1,287,250
Subordinated notes sharia mudharabah 317,000
450,000 Medium-term notes MTN
340,000 -
Mandiri travelers’ cheques 72,035
77,204 Others
- 564
Total 5,398,035
1,815,018 9,060,035
2,402,768 Less: Unamortised issuance cost
34,041 4,590
Net 9,025,994
2,398,178
Bonds On September 30, 2016, Bank Mandiri issued Continuous Bonds I Bank Mandiri Phase I 2016
“Continuous Bonds I Phase I” with a nominal value of Rp5,000,000 which consist of 3 three series:
Bonds Nominal value
Fixed interest rate per annum
Maturity date
Series A 1,100,000
7.95 September 30, 2021
Series B 1,500,000
8.50 September 30, 2023
Series C 2,400,000
8.65 September 30, 2026
The interest of Countinous Bonds I Phase I
is paid quarterly, with the first payment on December 30, 2016. While the last payment of interest and also the maturity and payment date of the bonds’ principal
will fall on September 30, 2021 for series A; September 30, 2023 for series B; and September 30, 2026 for series C. The Trustee for Continuous Bonds I Phase I is PT Bank Tabungan Negara Persero Tbk.
During the validity period of the Bonds and prior to the repayment of the bonds, Bank Mandiri is under obligation to: i maintain at all times the Bank’s financial level in good condition as regulated by FSA; ii
maintain the bank’s health level at a minimum in the composite level 3 three which is “Fair”, according to internal assessment based upon Bank Indonesia’s regulation; iii obtain and comply with permits and
approvals from the Government and other parties and ensure that the Bank conform with Indonesia’s rules and regulations.
Bank Mandiri, without a written consent from the Trustee will not: i reduce the Bank’s issued and fully paid up capital except such a reduction is conducted based on regulations from the Government of
Indonesia or Bank Indonesia; ii undergo a change in its main business; iii undergo merger, consolidation, or acquisitions which led to the dissolution of Bank Mandiri.
PT BANK MANDIRI PERSERO Tbk. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
As of December 31, 2016 and for the year then ended Expressed in millions of Rupiah, unless otherwise stated
138
30. MARKETABLE SECURITIES ISSUED continued Bonds continued
The bonds are not guaranteed with specific guarantee, but guaranteed with all assets of the Bank, whether present or future, fixed or non-fixed assets in accordance with the provisions of Article 1131 and
1132 of the Indonesian Civil Law. As of December 31, 2016, based on Pefindo’s rating for Continuous Bond I Phase I is idAAA triple A.
On October 7, 2016, the Subsidiary PT Mandiri Tunas Finance issued and registered Continuous Bonds IIII Mandiri Tunas Finance Phase I year 2016 “Continuous Bonds III phase I” to the Indonesia
Stock Exchange with a nominal value of Rp500,000 which consist of 2 two series:
Bonds Nominal value
Fixed interest rate per annum
Maturity date
Series A 400,000
8.20 October 7, 2019
Series B 100,000
8.55 October 7, 2019
The trustee for Continuous Bonds III Mandiri Tunas Finance Phase I year 2016 is PT Bank Mega Tbk. The trustee agreement provides several restrictive covenants that must be fulfilled by the Subsidiary,
among others, providing collateral with fiduciary transfer of consumer financing receivables and maintaining debt to equity ratio to not exceed 10:1. Moreover, during the year that the bonds principals
are still outstanding, the Subsidiary is not allowed, among others, to conduct merger unless performed with the same business, to sell or assign more than 50 of the Subsidiary’s asset, except for
Subsidiary’s normal business transactions As of December 31, 2016, based on Pefindo’s rating, the rating of Continuous Bonds III Mandiri Tunas
Finance Phase I is idAA+ double A plus. On June 1, 2016, PT Mandiri Tunas Finance issued and registered Continuous Bonds II Mandiri Tunas
Finance Phase II Year 2016 “Continuous Bonds II Phase II” to the Indonesia Stock Exchange with a nominal value of Rp1,400,000, which consist of 2 two series:
Bonds Nominal value
Fixed interest rate per annum
Maturity date
Series A 720,000
8.95 June 1, 2019
Series B 680,000
9.25 June 1, 2021
The trustee for Continuous Bonds II Mandiri Tunas Finance Phase II year 2016 is PT Bank Mega Tbk. On December 18, 2015, the subsidiary PT Mandiri Tunas Finance issued and registered continuous
Bonds II PT Mandiri Tunas Finance Phase I Year 2015 “Continuous Bonds II Phase I” to the Indonesia Stock Exchange with a nominal value of Rp600,000, which consist of 2 two series:
Bonds Nominal value
Fixed interest rate per annum
Maturity date
Series A 500,000
10.20 December 18, 2018
Series B 100,000
10.80 December 18, 2020
The trustee for Continuous Bonds I Mandiri Tunas Finance Phase I year 2015 is PT Bank Mega Tbk. The trustee agreement provides several restrictive covenants that must be fulfilled by the Subsidiary,
among others, providing collateral with fiduciary transfer of consumer financing receivables and maintaining debt to equity ratio to not exceed 10:1. Moreover, during the year that the bonds principals
are still outstanding, the Subsidiary is not allowed to, among others, merge unless performed on the same business nor to sell or assign more than 50 of the Subsidiary’s asset, except for Subsidiary’s
normal business transactions.