PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED
Figures in tables are presented in billions of Rupiah, unless otherwise stated
61
20. BONDS AND NOTES continued
a. Bonds continued The funds received from public offering of bonds net of issuance costs, are to be used for
increasing capital expenditure which consisted of: wave broadband bandwidth, softswitching, datacom, information technology and others, infrastructure backbone, metro network, regional
metro junction, internet protocol, and satellite system and optimizing legacy and supporting facilities fixed wireline and wireless.
As of September 30, 2013, the rating of the bonds issued by PT Pemeringkat Efek Indonesia Pefindo is idAAA stable outlook.
Based on indenture trusts agreement, the Company is required to comply with all covenants or restrictions including maintaining financial ratios as follows:
1. Debt to equity ratio should not exceed 2:1. 2. EBITDA to finance costs ratio should not be less than 5:1.
3. Debt service coverage is 125.
As of September 30, 2013, the Company complied with the above mentioned ratios. b. MTN
Interest Issuance
Maturity payment
Notes Principal Rp
date date
period
MTN Metra I
Phase 1 30
June 9, 2009 June 19, 2012
Quarterly Phase 2
20 February 1, 2010
February 2, 2013 Quarterly
Metra II Phase 1
20 December 28, 2011 December 28, 2014 Quarterly
Phase 2 10 February 22, 2012 February 22, 2015
Quarterly Sigma
30 November 17, 2009 November 17,2014 Semi-annually
Finnet Phase 1
10 October 16, 2009 November 17, 2012
Monthly Phase 2
15 March 18, 2010
March 24, 2013 Monthly
In December 2012, the MTN was fully repaid by Metra through refinancing with BNI Note 21. In May 2012, the MTN was fully repaid by Sigma.
In March 2013, the MTN was fully repaid by Finnet
The Arranger of the Medium Term Notes is Bahana, with Bank Mega acting as Trustee, and KSEI is acting as Collecting Agent and Custodian. Proceeds from the issuance of MTN were used to,
among others expand the business and for working capital. Metra secures a minimum value of 40 of the outstanding MTN principal. The maximum value of
60 of the outstanding MTN principal is unsecured and at all times ranked pari passu with other unsecured debts of Metra. Metra may buy back all or part of the MTN at any time before the
maturity date of the MTN.
The MTN of Sigma and Finnet are not secured by a specific collateral, but secured by all of Sigma’s and Finnet’s assets, movable or non-movable, either existing or in the future Note 11c.x
which become a collateral to MTN holders and at all times ranked pari passu without any preference other creditor privileges in accordance with prevailing regulations. Sigma and Finnet
may buy back all or part of the MTN at any time before the maturity date of MTN.
Refer to Note 37 for details of related party transactions.
PERUSAHAAN PERSEROAN PERSERO PT TELEKOMUNIKASI INDONESIA Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS AS OF SEPTEMBER 30, 2013 UNAUDITED AND FOR NINE MONTHS PERIOD ENDED
WITH COMPARATIVE FIGURES AS OF DECEMBER 31, 2012 AUDITED AND FOR NINE MONTHS PERIOD ENDED SEPTEMBER 30, 2012 UNAUDITED
Figures in tables are presented in billions of Rupiah, unless otherwise stated
62
20. BONDS AND NOTES continued
c. Promissory Notes
Interest Interest
Issuance Payment
payment rate
Supplier Currency Principal
date schedule
period per annum
PT Huawei US
0.3 June 19, 2009
Semi-annually Semi-annually 6 month LIBOR+2.5
April 12, 2013 - June 28, 2015
PT ZTE US
0.1 August 20, 2009
Semi-annually Semi-annually 6 month LIBOR+1.5
Indonesia May 10, 2013 -
6 month LIBOR+2.5 “ZTE”
June 10, 2015
Based on Agreement of Frame Supply and Deferred Payment Arrangement between the Company and ZTE and PT Huawei, the promissory notes issued by the Company to ZTE and
PT Huawei are unsecured supplier financing facilities covering 85 of Hand Over Report “Berita Acara Serah Terima” projects with ZTE and PT Huawei.
21. BANK LOANS
September 30, 2013 December 31, 2012
Outstanding Outstanding
Original Original
currency Rupiah
currency Rupiah
Lenders Currency in millions
equivalent in millions equivalent
BRI Rp
- 3,482
- 4,011
Syndication of banks Rp
- 2,122
- 1,950
BNI Rp
- 1,428
- 1,201
BCA Rp
- 878
- 1,564
Bank Mandiri Rp
- 722
- 1,417
ABN Amro Bank N.V. Stockholm Branch “AAB
Stockholm” and Standard Chartered Bank
US 60
694 68
659 Bank CIMB Niaga
Rp -
294 -
174 Japan Bank for International
Cooperation “JBIC” US
24 278
30 289
Bukopin Rp
- 12
- US
1.00 18
- PT Bank Ekonomi Raharja Tbk
“Bank Ekonomi” Rp
- -
41 US
- -
3 Others each below Rp10 billion
Rp -
- -
Total 9,928
11,309 Unamortized debt issuance cost
57 51
9,871 11,258
Current maturities Note 18a 3,559
4,475
Long-term portion Note 18b 6,312
6,783
Refer to Note 37 for details of related party transactions.