Debt

Following is a summary of short-term borrowings and long-term debt:



	December 31,
	2016			2015
	(In thousands)
Debt of Amkor Technology, Inc.:
Senior secured credit facilities:
$200 million revolving credit facility, LIBOR plus 1.25%-1.75%, due December 2019 (1)	$	—		$	100,000
Senior notes:
6.625% Senior notes, due June 2021, $75 million related party	400,000			400,000
6.375% Senior notes, due October 2022	524,971			525,000
Debt of subsidiaries:
Amkor Technology Korea, Inc.:
$100 million revolving credit facility, foreign currency funding-linked base rate plus 1.60%, due June 2017 (2)	—			40,000
Term loan, LIBOR plus 2.60%, due May 2018	120,000			120,000
Term loan, LIBOR plus 2.70%, due December 2019	55,000			70,000
Term loan, foreign currency funding-linked base rate plus 1.32%, due May 2020	150,000			150,000
Term loan, foreign currency funding-linked base rate plus 1.33%, due May 2020	80,000			80,000
Term loan, fund floating rate plus 1.60%, due June 2020 (3)	86,000			40,000
J-Devices Corporation:
Short-term term loans, variable rate (4)	22,230			15,582
Term loans, fixed rate at 0.53%, due April 2018	19,460			31,465
Short-term term loans, fixed rate at 0.50%	—			5,808
Term loans, TIBOR plus 1.00%	—			2,800
Other:
Revolving credit facility, TAIFX plus a bank-determined spread, due November 2020 (Taiwan) (5)	20,000			10,000
Term loan, LIBOR plus 1.80%, due December 2019 (China) (6)	—			—
	1,477,661			1,590,655
Less: Unamortized premium and deferred debt costs, net	(2,831		)	(3,616		)
Less: Short-term borrowings and current portion of long-term debt	(35,192		)	(76,770		)
Long-term debt (including related party)	$	1,439,638		$	1,510,269

(1)

Our $200.0 million senior secured revolving credit facility has a letter of credit sub-limit of $25.0 million. Principal is payable at maturity. The availability for the revolving credit facility is based on the amount of our eligible accounts receivable, which exceeded $200.0 million as of December 31, 2016. Additionally, we had $0.5 million of standby letters of credit outstanding, resulting in $199.5 million available to be drawn.


(2)	In June 2012, we entered into a $41.0 million revolving credit facility. In March 2016, we increased the facility to $100.0 million. In June 2016, we amended the maturity date to June 2017. Principal is payable at maturity. As of December 31, 2016, $100.0 million was available to be drawn.


(3)	In May 2015, we entered into a term loan agreement pursuant to which we may borrow up to $150.0 million for capital expenditures. In November 2016, the loan agreement was amended to extend the period for which we may borrow to June 2020. Principal is payable at maturity. At December 31, 2016, $64.0 million was available to be borrowed.


(4)	We entered into various short-term loans which mature semi-annually. Principle is payable in monthly installments. As of December 31, 2016, $4.7 million was available to be drawn.


(5)	In November 2015, we entered into a $39.0 million revolving credit facility. Principal is payable at maturity. As of December 31, 2016, $19.0 million was available to be drawn.


(6)	In December 2016, we entered into a $50.0 million term loan agreement. Principal is payable in semiannual installments of $0.5 million, with the remaining balance due at maturity. In January 2017, we borrowed $50.0 million.

Our foreign debt is generally collateralized by the land, buildings and equipment in the respective locations. The carrying value of the collateral exceeds the carrying amount of the debt.

Interest Rates

Interest is payable semiannually on our senior notes and quarterly or monthly on our other variable and fixed rate debt. Refer to the table above for the interest rates on our fixed rate debt and to the table below for the interest rates on our variable rate debt.



	Variable Interest Rates at December 31,
	2016		2015
Amkor Technology, Inc.:
$200 million revolving credit facility, LIBOR plus 1.25%-1.75%, due December 2019	—	%	2.13	%
Amkor Technology Korea, Inc.:
$100 million revolving credit facility, foreign currency funding-linked base rate plus 1.60%, due June 2017	—	%	3.32	%
Term loan, LIBOR plus 2.60%, due May 2018	3.49	%	2.99	%
Term loan, LIBOR plus 2.70%, due December 2019	3.54	%	3.02	%
Term loan, foreign currency funding-linked base rate plus 1.32%, due May 2020	3.58	%	3.19	%
Term loan, foreign currency funding-linked base rate plus 1.33%, due May 2020	3.59	%	3.19	%
Term Loan, fund floating rate plus 1.60%, due June 2020	2.79	%	2.32	%
J-Devices Corporation:
Short-term credit facilities, variable rate	0.32	%	0.46	%
Term loans, TIBOR plus 1.00%	—	%	1.13	%
Amkor Technology Taiwan Ltd.:
Revolving credit facility, TAIFX plus a bank-determined spread, due November 2020	2.78	%	1.66	%

Compliance with Debt Covenants

The debt of Amkor Technology, Inc. is structurally subordinated in right of payment to all existing and future debt and other liabilities of our subsidiaries. The agreements governing our indebtedness contain a number of affirmative and negative covenants which restrict our ability to pay dividends and could restrict our operations. We have never paid a dividend to our stockholders and we do not have any present plans for doing so. We were in compliance with all of our covenants at December 31, 2016 and 2015.

Maturities



	Total Debt
	(In thousands)
Payments due for the year ending December 31,
2017	$	35,192
2018	126,498
2019	135,000
2020	256,000
2021	400,000
Thereafter	524,971
Total debt	$	1,477,661