Maxis Berhad | Annual Report 2012

Maxis Berhad // Annual Report 2012 156 30 BORROWINGS (CONTINUED) (c) Non-current unsecured syndicated term loans (i) USD750,000,000 syndicated term loan This syndicated term loan was drawn down on 24 February 2010 and is repayable in six semi-annual instalments commencing on 24 August 2014 with final maturity on 24 February 2017. As disclosed in Note 22 to the financial statements, the Company has entered into CCIRS where the principal sum and interest under this term loan is being hedged against fluctuations in USD/RM exchange rate and in LIBOR. (ii) USD100,000,000 syndicated term loan This syndicated term loan was drawn down on 13 August 2010 and is repayable in one lump sum on loan maturity date, 13 August 2020. As disclosed in Note 22 to the financial statements, the Company has entered into CCIRS where the principal sum and interest under this term loan is being hedged against fluctuations in USD/RM exchange rate and in LIBOR. (d) Islamic Medium Term Notes On 24 February 2012, the Company established an unrated Islamic Medium Term Notes Programme with an aggregate nominal value of up to RM2.45 billion (“Sukuk Programme”) based on the Islamic principle of Musharakah. The Sukuk Programme has a tenure of 30 years from the date of first issue under the Sukuk Programme. On the same date, the Company made the first issuance under the Sukuk Programme of RM2.45 billion nominal value with a tenure of 10 years (“Sukuk Musharakah”) with the profit being payable semi-annually. Maxis Mobile Services Sdn. Bhd. and Maxis Broadband Sdn. Bhd., both wholly owned subsidiaries of the Company provide unconditional and irrevocable corporate guarantees under the Sukuk Programme. Contractual terms of borrowings Contractual interest rate/ Functional profit margin currency/ Total at reporting date currency carrying Maturity profile Group (per annum) exposure amount < 1 year 1-2 years 2-5 years > 5 years % RM’000 RM’000 RM’000 RM’000 RM’000 At 31 December 2012 Secured Finance lease liabilities RM/RM 6,982 2,061 2,183 2,738 – Unsecured Syndicated term loans 1.35% - 1.60% + LIBOR (1) RM/USD 2,583,174 – 368,746 1,911,818 302,610 Term loans 0.75% + COF (2) RM/RM 995,692 – – – 995,692 1.50% - 1.60% + LIBOR (1) RM/USD 531,556 – – – 531,556 1.25% + SOR (3) RM/SGD 174,030 – – – 174,030 Islamic Medium Term Notes 5.00% RM/RM 2,482,446 – – – 2,482,446 6,773,880 2,061 370,929 1,914,556 4,486,334 Notes: (1) LIBOR denotes London Interbank Offered Rate. (2) COF denotes Cost of Funds. (3) SOR denotes Singapore Swap Offer Rate. NOTES TO THE FINANCIAL STATEMENTS 31 DECEMBER 2012 Continued