Debt

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



	March 31, 2017			December 31, 2016
	(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)	$	—		$	—
Senior notes:
6.625% Senior notes, due June 2021	400,000			400,000
6.375% Senior notes, due October 2022	524,971			524,971
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)	—			—
Term loan, LIBOR plus 2.60%, due May 2018	120,000			120,000
Term loan, LIBOR plus 2.70%, due December 2019	55,000			55,000
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 (2)	80,000			80,000
Term loan, fund floating rate plus 1.60%, due June 2020 (3)	86,000			86,000
J-Devices Corporation:
Short-term term loans, variable rate (4)	22,370			22,230
Term loans, fixed rate at 0.53%, due April 2018	16,964			19,460
Other:
Revolving credit facility, TAIFX plus a bank-determined spread, due November 2020 (Taiwan) (5)	20,000			20,000
Term loan, LIBOR plus 1.80%, due December 2019 (China) (6)	50,000			—
	1,525,305			1,477,661
Less: Unamortized premium and deferred debt costs, net	(2,641		)	(2,831		)
Less: Short-term borrowings and current portion of long-term debt	(36,927		)	(35,192		)
Long-term debt (including related party)	$	1,485,737		$	1,439,638

(1)

Our $200.0 million senior secured revolving credit facility has a letter of credit sub-limit facility 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 was $166.0 million as of March 31, 2017. Additionally, we had $0.5 million of standby letters of credit outstanding, resulting in $165.5 million available to be drawn as of March 31, 2017.

(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. Principal is payable at maturity. Interest is payable monthly in arrears, at a foreign currency funding-linked base rate plus 1.60% (3.62% as of March 31, 2017). As of March 31, 2017, $100.0 million was available to be drawn. In April 2017, we borrowed $75.0 million on this facility and repaid the outstanding balance of $80.0 million on our term loan due May 2020.


(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. Principal is payable at maturity. Interest is payable quarterly in arrears, at a fund floating rate plus 1.60% (2.93% as of March 31, 2017). As of March 31, 2017, $64.0 million was available to be borrowed.


(4)	We entered into various short-term term loans which mature semiannually. Principal is payable in monthly installments. Interest is payable monthly, at TIBOR plus 0.24% to 0.38% (weighted-average of 0.32% as of March 31, 2017). As of March 31, 2017, $3.1 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. Interest is payable monthly, at TAIFX plus a bank determined spread (2.54% as of March 31, 2017). As of March 31, 2017, $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. Interest is payable quarterly, at LIBOR plus 1.80% (2.81% as of March 31, 2017). 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.

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 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 debt covenants at March 31, 2017.