PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
87
29. SUBORDINATED LOANS continued
Two-Step Loans TSL continued a Nordic Investment Bank NIB continued
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 5 state-owned banks.
• Not be lower than the interbank interest rate to the Government of the Republic of Indonesia plus 1.75 per annum.
The interest rate on the NIB III and IV facility are based on a 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 EBJ 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 III
To finance private and state-owned company projects in sectors prioritized
by the Government and that 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.
The details of credit facilities from the EBJ are as follows:
2006 2005
a Export-Import Bank of Japan III EBJ-TSL III -
14,784 b Export-Import Bank of Japan IV EBJ-TSL IV
19,530 39,058
19,530 53,842
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
88
29. SUBORDINATED LOANS continued
Two-Step Loans TSL continued b Export-Import Bank of Japan EBJ continued
The interest rate on the credit facilities from EBJ-TSL III and EBJ-TSL IV is based on the floating interest rate determined every six months based on the prevailing average interest rate for the past six
months for three-month Certificates of Bank Indonesia, which should:
• Not be higher than the six-months’ average interest rate for three-month time deposits in five 5 state-owned banks and not be lower than the interest rate on EBJ loans plus 4 for EBJ-TSL III.
• Not be higher than the six-months’ average interest rate for three-month time deposits in five 5 state-owned banks for EBJ-TSL IV.
EBJ-TSL III facilities have been fully settled in July 2005. c Asian Development Bank ADB
This account represents credit facilities from the ADB 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 ADB Perkebunan Nusantara
XII and Nescoco Inti To finance government projects in
funding credit for plantation projects. February 15, 1989 - September 15,
2008 with 1
st
installment on March 15, 1995.
ADB Fishery II To finance government projects in
funding credit for fishery projects. December 19, 1991 - September
15, 2006 with 1
st
installment on March 15, 1995
ADB 1327-INO SF To finance Micro Credit Projects.
January 15, 2005 - July 15, 2029 with 1
st
installment on January 15, 2005.
The details of credit facilities from Asian Development Bank ADB are as follows:
2006 2005
a ADB Loan 1327 - INO
209,317 226,007
b ADB Perkebunan Nusantara XII and Nescoco Inti
1,722 2,411
c ADB Fishery
II 271
814
211,310 229,232
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
Six Months Ended June 30, 2006 Unaudited and 2005 Audited Expressed in millions of Rupiah, unless otherwise stated
89
29. SUBORDINATED LOANS continued
