PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
86
26. SECURITIES ISSUED continued
On November 14, 2002, some of the FRN BDN holders exercised the put option amounting to US163,000,000 full amount out of the nominal amount of US180,000,000 full amount. On the
put option date, the Bank paid US1,343,000 full amount as a sweetener fee to the bondholders who did not exercise their put option, and of that amount, the unamortized balance was recorded as
other liabilities. As of June 30, 2004, the total unexercised option amounted to US17,000,000 full amount and will mature through December 2005.
27. FUND BORROWINGS
June 30, 2004 June 30, 2003
April 30, 2003
Rupiah: Bank Indonesia a
1,050,757 1,333,307
1,378,444 Bank Ekspor Indonesia b
295,864 1,996,582
1,706,449 PT Permodalan Nasional Madani Persero d
363,920 249,519
236,438 Others e
190,000 -
- 1,900,541
3,579,408 3,321,331
Foreign currency: Bank Ekspor Indonesia b
759,803 33,019
840,640 Exchange Offer Loans c
1,709,009 4,685,883
8,053,380 Others f
381,023 374,469
442,928 2,849,835
5,093,371 9,336,948
4,750,376 8,672,779
12,658,279
The Bank has no fund borrowings from related parties. a Bank
Indonesia This account represents a credit liquidity facility obtained from Bank Indonesia BI, which was re-
loaned to Bank Mandiri customers under the Government Credit Program. The management and monitoring of the credit facility are performed by PT Permodalan Nasional Madani Persero, a
state-owned company, based on Law No. 231999 dated May 17, 1999 regarding BI, BI Regulation No. 23PBI2000 dated February 1, 2000 and BI Regulation No. 520PBI2003 dated
September 17, 2003 regarding the Hand-over of Management of Credit Liquidity of Bank Indonesia Under Credit Program. This facility is subject to interest at rates ranging from 3 to
10 per annum and will mature on various dates through 2017. The details of this account are as follows:
June 30, 2004 June 30, 2003
April 30, 2003
Rupiah: Investment Loans KI
208,245 398,935
444,770 Small-Scale Working Capital Loans KUK - KKPA
514,239 531,025
525,871 Small-Scale Investment Loans KIK
328,223 403,297
407,753 Working Capital Loans KMK
50 50
50
1,050,757 1,333,307
1,378,444
b Bank Ekspor Indonesia This account represents credit facilities for export working capital obtained from Bank Ekspor
Indonesia based on the facility agreement No. 064PPF122000 dated December 12, 2000 between PT Bank Ekspor Indonesia Persero and PT Bank Mandiri Persero. The agreement
was for the period from December 20, 2000 until December 19, 2001, and was extended to December 17, 2004. The facilities were re-loaned to direct and indirect exporter customers of
Bank Mandiri and bear interest at market rates.
PT BANK MANDIRI PERSERO TBK. AND SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
June 30, 2004 and 2003, and April 30, 2003 Expressed in millions of Rupiah, unless otherwise stated
87
27. FUND BORROWINGS continued
