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SHORT-TERM BANK LOANS AND CURRENT MATURITIES OF LONG-TERM LOANS AND OTHER BORROWINGS

12 Months Ended

Dec. 31, 2023

SHORT-TERM BANK LOANS AND CURRENT MATURITIES OF LONG-TERM LOANS AND OTHER BORROWINGS

SHORT-TERM BANK LOANS AND CURRENT MATURITIES OF LONG-TERM LOANS AND OTHER BORROWINGS

19. SHORT-TERM BANK LOANS AND CURRENT MATURITIES OF LONG-TERM LOANS AND OTHER BORROWINGS

This account consists of the following:


	2022	2023
Short-term bank loans	8,191	9,650
Current maturities of long-term borrowings	8,858	10,276
Total	17,049	19,926

Short-term bank loans


	Outstanding
Lenders	2022	2023
Related parties
Bank Mandiri	3,483	4,013
BNI	979	903
Sub-total	4,462	4,916
Third parties
PT Bank HSBC Indonesia ("HSBC")	1,836	2,547
MUFG Bank ("MUFG")	1,349	1,155
UOB Indonesia	—	500
PT Bank DBS Indonesia ("DBS")	475	440
Others (each below Rp100 billion)	69	92
Sub-total	3,729	4,734
Total	8,191	9,650

Other significant information relating to short-term bank loans as of December 31, 2023 is as follows:

Total

facility

(in

Interest rate per

Borrower

Currency

billions)*

Maturity date

Interest rate

annum

Security**

Mandiri

2020

Finnet

500

October 31, 2024

Monthly

1 month JIBOR + 1.30%

None

2021 - 2022

Nutech, Mitratel

3,550

July 26, 2024 - September 27, 2024

Monthly

5.85% - 9.00%

Trade receivables and property and equipment

BNI

2014 - 2017

GSD, Sigma

350

January 9, 2024 -
November 7, 2024

Monthly

7.90% - 8.50%

Trade receivables and property and equipment

2017 - 2021

Metranet, Telkom Infra, Infomedia

1,135

February 18, 2024 -
June 6, 2024

Monthly

1 month JIBOR +
1.75% - 2.50%

Trade receivables

HSBC

2014

Sigma^a

400

November 6, 2024

Monthly

Under BLR 7.40%

Trade receivables

2018 - 2023

Sigma, Metra, PINS, Metranet,Telkomsat, GSD, TDE

2,613

June 4, 2024 -
December 31, 2024

Monthly, Quarterly

1 month
JIBOR + 0.35% - 0.80%
3 months
JIBOR + 2.00%

None

MUFG Bank

2018 - 2019

Infomedia, Metra, GSD, Telkom Infra, Telkomsat

1,616

October 31, 2024

Monthly, Quarterly

1 month
JIBOR + 0.70% - 0.80%
3 months
JIBOR + 0.25%

None

UOB Indonesia

2016

Finnet

500

October 31, 2024

Monthly

1 month
JIBOR + 1.75%

None

DBS

2018

Telkom Infra, Infomedia

475

July 31, 2024

Monthly

1 month JIBOR +
1.20%

None

*In original currency

**Refer to Note 6 and Note 12 for details of trade receivables and property and equipment pledged as collateral.

^aUnsettled loan will be automatically extended.

As stated in the agreements, the Group is required to comply with all covenants or restrictions such as limitation that the Company must have a majority shareholding of at least 51% of the subsidiaries and must maintain certain level of financial ratios. On December 11, 2023, December 18, 2023, and December 22, 2023, the Group obtained waiver from BNI, Bank DBS, and HSBC, respectively, related to the non-fulfillment financial ratios in Sigma. As of December 31, 2023, the Group has complied with all covenants regarding these financial ratios.

The credit facilities were obtained by the Group for working capital purposes.

Current maturities of long-term loans and other borrowings


	Notes	2022	2023
Two-step loans	20a	118	84
Bonds and medium-term notes ("MTN")	20b	—	548
Bank loans	20c	7,788	9,282
Other borrowings	20d	952	362
Total		8,858	10,276