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155
Maxis Berhad
Annual Report 2014
Notes to the
Financial Statements
31 December 2014
30 BORROWINGS (CONTINUED)
(d) Non-current unsecured term loans
(i) RM1,000,000,000 term loan
This term loan was drawn down on 27 December 2011 and is repayable in one lump sum on the loan’s maturity date, 27
December 2022. As disclosed in Note 21 to the financial statements, the Company has entered into IRS where the interest
under this term loan is partially hedged against fluctuations in KLIBOR.
(ii) USD100,000,000 term loans
These term loans were all drawn down on 28 February 2011 and are repayable in one lump sum on their respective loan
maturity dates, 28 February 2021. As disclosed in Note 21 to the financial statements, the Company has entered into CCIRS
where the principal sum and interest under these term loans are hedged against fluctuations in USD/RM exchange rate
and in LIBOR.
(iii) SGD70,000,000 term loan
This term loan was drawn down on 28 February 2011 and is repayable in one lump sum on the loan’s maturity date,
28 February 2021. As disclosed in Note 21 to the financial statements, the Company has entered into CCIRS where the
principal sum and interest under this term loan is hedged against fluctuations in SGD/RM exchange rate and in SOR.
(iv) USD75,000,000 term loan
This term loan was drawn down on 14 June 2011 and is repayable in one lump sum on the loan’s maturity date, 14 June
2021. As disclosed in Note 21 to the financial statements, the Company has entered into CCIRS where the principal sum
and interest under this term loan is hedged against fluctuations in USD/RM exchange rate and in LIBOR.
(e) 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”), redeemable on its maturity date on 24 February 2022. The profit is 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.
