TRADE PAYABLES continued 2009 Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
21. LONG-TERM BANK LOANS 2009
2008 Rupiah PT Bank CIMB Niaga Tbk - 25 US Dollars Syndicated Loan 5,170,000 6,570,000 Senior Credit Facility syndicated loan 2,165,384 2,574,455 PT Bank OCBC NISP Tbk 141,000 - 7,476,384 9,144,455 Total long-term bank loans 7,476,384 9,144,480 Less: Portion due within one year 1,856,039 818,538 Non-current portion 5,620,345 8,325,942 The interest rates on the long-term bank loans are as follows: 2009 2008 Rupiah - 6.9 US Dollars 1.5 - 6.7 3.3 - 6.5a. 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, wherein DBS Bank Ltd acts as the facility agent. Based on the agreement, the Lenders agreed to grant bank loan facilities of US750 million, of which Adaro and Coaltrade obtained facilities of US550 million and US200 million, respectively. These facilities consist of a term loan facility of US650 million and a revolving loan facility of US100 million with interest rates at LIBOR plus a certain percentage. The term loan facility is payable quarterly with the first installment on 7 March 2008. The remaining payment schedule for the outstanding term loan is as follows: Year Adaro Coaltrade Total US US US 2010 36,536,000 13,464,000 50,000,000 2011 116,925,391 43,074,609 160,000,000 2012 175,389,686 64,610,314 240,000,000 328,851,077 121,148,923 450,000,000 The term loan facility has a maturity date on the fifth anniversary from the date of the loan agreement. The revolving loan facility of US100,000,000 should be repaid in full on the third anniversary of the date of the loan agreement, at which point Adaro and Coaltrade may request to extend the facility up to 7 December 2012. In September 2008, the Borrowers made an early repayment amounting to US100,000,000 for the term loan facility from the funds earned from the IPO. ATA, IBT, Biscayne, Arindo Holdings, Viscaya and the Borrowers collectively hereinafter referred to as the “Guarantors”, act as the guarantors of the syndicated loan. 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 was in compliance as at 31 December 2009. The Primary Operating Companies are also required to comply with certain terms and conditions on Article of Association, the nature of business, dividends, corporate actions, financing activities and others.Parts
» Adaro Energy 2009 Annual Report English
» Quick Ratio Adaro Energy 2009 Annual Report English
» 13.6 9.4 5.5 1.4 38.5 34.4 24.3 20.8 Adaro Energy 2009 Annual Report English
» Transportation Mt Adaro Energy 2009 Annual Report English
» 23.7 Adaro Energy 2009 Annual Report English
» 9.0 -9.4 7.6 -48 -22 Adaro Energy 2009 Annual Report English
» -57 -58 Adaro Energy 2009 Annual Report English
» 5 1 Adaro Energy 2009 Annual Report English
» Financial structure Adaro Energy 2009 Annual Report English
» International TOTAL Adaro Energy 2009 Annual Report English
» The Development of High Yield Rubber Plantations Micro Financing Institute
» Institute for Educational Potential Development of Adaro Partners LP3AP
» GENERAL continued Establishment of the Company and other information
» GENERAL continued Subsidiaries continued
» Scholarships Establishment of the Company and other information continued Subsidiaries continued
» GENERAL continued Coal Cooperation Agreement
» Cooperation Agreement Adaro Energy 2009 Annual Report English
» Barito Channel Cooperation Agreement
» Coal reserves Adaro Energy 2009 Annual Report English
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
» Basis of preparation of the consolidated financial statements
» SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES continued
» Principles of consolidation continued
» Foreign currency translation Adaro Energy 2009 Annual Report English
» Receivables Adaro Energy 2009 Annual Report English
» Inventories Adaro Energy 2009 Annual Report English
» Investments in debt and equity securities continued
» Impairment of investment in equity and debt securities
» Fixed assets and depreciation continued
» Impairment of long-lived assets
» Deferred exploration and development expenditure continued
» Leases Adaro Energy 2009 Annual Report English
» Environmental obligations continued Adaro Energy 2009 Annual Report English
» Stripping costs Adaro Energy 2009 Annual Report English
» Deferred financing costs Adaro Energy 2009 Annual Report English
» Deferred expenses Adaro Energy 2009 Annual Report English
» Provision for employee benefits continued
» Taxation Adaro Energy 2009 Annual Report English
» Derivative financial instruments and hedging activities
» Earnings per share Adaro Energy 2009 Annual Report English
» Segment reporting continued Adaro Energy 2009 Annual Report English
» Dividends Adaro Energy 2009 Annual Report English
» ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES
» ACQUISITIONS, DISPOSALS, AND LIQUIDATION OF SUBSIDIARIES continued
» Acquisition of PT Alam Tri Abadi
» Acquisition of Rachmalta Investments Ltd by Rachpore Investments Pte Ltd continued
» Acquisition of Coronado Holdings Pte Ltd and Orchard Maritime Logistics Pte Ltd
» RESTRICTED CASH AND CASH EQUIVALENTS
» INVENTORIES Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
» DEFERRED EXPLORATION AND DEVELOPMENT EXPENDITURE 2009
» FIXED ASSETS continued Construction in progress continued MINING PROPERTIES 2009
» GOODWILL 2009 Liquidation Adaro Finance B.V., MEC Indo Coal B.V. and Arindo Global Netherland B.V.
» SHORT-TERM BANK LOANS continued Syndicated Short-term Loan
» LONG-TERM BANK LOANS continued b.
» SENIOR NOTES 2009 PT Bank OCBC NISP Tbk
» DERIVATIVE INSTRUMENT PT Bank OCBC NISP Tbk
» DERIVATIVE INSTRUMENT continued b.
» ACCRUED STRIPPING COSTS 2009 MINORITY INTEREST a.
» MINORITY INTEREST continued a.
» SHARE CAPITAL ADDITIONAL PAID-IN CAPITAL 2009
» DIFFERENCE IN VALUE FROM RESTRUCTURING TRANSACTIONS OF ENTITIES UNDER COMMON CONTROL continued
» DIVIDENDS Minority interest in net incomeloss of subsidiaries
» APPROPRIATED RETAINED EARNINGS Minority interest in net incomeloss of subsidiaries
» REVENUE 2009 Minority interest in net incomeloss of subsidiaries
» COST OF REVENUE 2009 OPERATING EXPENSES a.
» OPERATING EXPENSES continued b.
» TAXATION a. Minority interest in net incomeloss of subsidiaries
» TAXATION continued b. Recoverable taxes
» TAXATION continued d. Income tax expense
» TAXATION continued e. Deferred tax assets
» Taxes payable Deferred tax liabilities
» Administration Adaro Energy 2009 Annual Report English
» TAXATION continued i. Tax assessment letter
» TRANSACTIONS AND BALANCES WITH RELATED PARTIES
» Other receivables - related party
» TRANSACTIONS AND BALANCES WITH RELATED PARTIES continued d.
» Trade payables to related parties Cost of revenue
» BASIC EARNINGS PER SHARE 2009
» MONETARY ASSETS AND LIABILITIES SEGMENT REPORTING
» SEGMENT REPORTING continued The nature of relationships with related parties
» SEGMENT REPORTING continued 2008 The nature of relationships with related parties
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued a.
» Interest expense Land-Use Cooperation Agreement
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued c.
» Royalty claim Adaro Energy 2009 Annual Report English
» Capital expenditures Adaro Energy 2009 Annual Report English
» Banking facility Adaro Energy 2009 Annual Report English
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued h.
» Engineering, Procurement and Construction Agreement
» Agency fees Adaro Energy 2009 Annual Report English
» Customer Claims Adaro Energy 2009 Annual Report English
» Legal proceedings Adaro Energy 2009 Annual Report English
» SIGNIFICANT AGREEMENTS, COMMITMENTS AND CONTINGENCIES continued n.
» Amortising Revolving Credit Facility
» Overland Conveyor Construction Contract
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