axiata group berhad | annual report 2015
193
19. DERIVATIVE FINANCIAL INSTRUMENTS (CONTINUED)
Non-hedging derivatives are classified as current/non-current assets or liabilities. The full fair value of a hedging derivative is classified as a non-current
asset or liability if the remaining maturity of the hedged item is more than twelve (12) months and, as a current asset or liability, if the maturity of the
hedged items is less than twelve (12) months.
Non-hedging derivatives financial instruments
(a) Cross currency interest rate swaps
The information relating to the derivative financial instruments of a subsidiary of the Group as at 31 December 2015 is as follows:
Counterparties
Notional
amount
USD’million
Period
Swap
amount
IDR’billion
Exchange
period
Fixed
interest
rate paid
Exchange
rate per
1USD:
Interest
rate
received
The Bank of Tokyo
Mitsubishi UFJ, Ltd
(“BTMU”)
88.0 25 March 2013-
24 March 2016
854.9 Quarterly
6.93% IDR9,715 3 months’ LIBOR
+ 0.8% margin
SCB
50.0 13 June 2013-
13 June 2018
495.9 Quarterly
7.60% IDR9,918 Fixed rate 2.3%
(b) Call spread options
The information relating to the derivative financial instruments of a subsidiary of the Group as at 31 December 2015 is as follows:
Counterparties
Notional
amount
USD’million
Period
Strike/
cap rate
1USD:
Premium per
annum
Start of
optional
termination
date
Bank of America Merrill Lynch
- Singapore
100.0
29 May 2014
-9 Jan 2019
IDR11,580-
IDR14,580
3.33%
9 Oct 2015
DBS Bank Ltd. Singapore
200.0
30 May 2014
-14 March 2019
IDR11,600-
IDR14,600
3.22% 17 March 2015
