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Debt (Tables)
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Summary of Short term Borrowings And Long term Debt
Following is a summary of short-term borrowings and long-term debt:
 
June 30,
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 (2)
400,000

 
400,000

6.375% Senior notes, due October 2022
524,971

 
524,971

Debt of subsidiaries:
 

 
 

Amkor Technology Korea, Inc.:
 
 
 
$75 million revolving credit facility, foreign currency funding-linked base rate plus 1.60%, due June 2018 (3)
75,000

 

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, fixed rate at 3.70%, due May 2020 (4)
120,000

 

Term loan, fund floating rate plus 1.60%, due June 2020 (5)
86,000

 
86,000

Term loan, LIBOR plus 2.60%, due May 2018 (4)

 
120,000

Term loan, foreign currency funding-linked base rate plus 1.33%, due May 2020 (3)

 
80,000

J-Devices Corporation:
 
 
 
Short-term term loans, variable rate (6)
32,094

 
22,230

Term loans, fixed rate at 0.53%, due April 2018
13,538

 
19,460

Term loan, fixed rate at 0.86%, due June 2022 (7)
44,591

 

Other:
 
 
 
Revolving credit facility, TAIFX plus a bank-determined spread, due
November 2020 (Taiwan) (8)
20,000

 
20,000

Term loan, LIBOR plus 1.80%, due December 2019 (China) (9)
49,500

 

 
1,570,694

 
1,477,661

Less: Unamortized premium and deferred debt costs, net
(2,454
)
 
(2,831
)
Less: Short-term borrowings and current portion of long-term debt
(including related party)
(330,550
)
 
(35,192
)
Long-term debt (including related party)
$
1,237,690

 
$
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. As of June 30, 2017, we had availability of $182.9 million under this facility, after reduction of $0.5 million of outstanding standby letters of credit.
(2)
In June 2017, we issued a redemption notice for $200.0 million of the outstanding $400.0 million of our 6.625% Senior Notes due 2021 ("Notes"). The note redemption was completed in July 2017 and included $17.5 million held by a related party. In accordance with the terms of the indenture governing the Notes, the redemption price was 101.656% of the principal amount of the Notes plus accrued and unpaid interest. We expect to record a one-time charge in the third quarter of 2017 of approximately $4 million for early extinguishment of debt. The redemption of the Notes was funded with cash on hand.
(3)
In April 2017, we decreased the revolving credit facility from $100.0 million to $75.0 million. Principal is payable at maturity, which was extended in June 2017 for one year to June 2018. Interest is payable monthly in arrears, at a foreign currency funding-linked base rate plus 1.60% (3.71% as of June 30, 2017). 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.
(4)
In May 2017, we entered into a $120.0 million term loan agreement to repay the $120.0 million term loan due in 2018. The new term loan agreement extended the maturity date to 2020 and changed the interest rate to a fixed rate. Principal is payable at maturity. Interest is payable quarterly in arrears at a fixed rate of 3.7%.
(5)
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% (3.08% as of June 30, 2017). As of June 30, 2017, $64.0 million was available to be borrowed.
(6)
We entered into various short-term term loans which mature semiannually. Principal is payable in monthly installments. Interest is payable monthly, at TIBOR plus 0.22% to 0.38% (weighted-average of 0.30% as of June 30, 2017). As of June 30, 2017, $3.6 million was available to be drawn.
(7)
In June 2017, we entered into a ¥5.0 billion term loan agreement for capital expenditures. Principal is payable in quarterly installments of ¥250.0 million. Interest is payable quarterly in arrears, at a fixed rate of 0.86%. In June 2017, we borrowed ¥5.0 billion.
(8)
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 (2.51% as of June 30, 2017). As of June 30, 2017, $19.0 million was available to be drawn.
(9)
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% (2.96% as of June 30, 2017). In January 2017, we borrowed $50.0 million.