Debt

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



	March 31, 2018			December 31, 2017
	(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	200,000			200,000
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	75,000			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	120,000			120,000
Term loan, fund floating rate plus 1.60%, due June 2020 (2)	86,000			86,000
J-Devices Corporation:
Short-term term loans, variable rate (3)	14,574			30,455
Term loans, fixed rate at 0.53%, due April 2018	3,585			6,744
Term loan, fixed rate at 0.86%, due June 2022	39,989			39,933
Term loan, fixed rate at 0.60%, due July 2022	8,468			8,430
Other:
Revolving credit facility, TAIFX plus a bank-determined spread, due November 2020 (Taiwan) (4)	20,000			20,000
Term loan, LIBOR plus 1.80%, due December 2019 (China)	49,000			49,000
	1,346,587			1,365,533
Less: Unamortized premium and deferred debt costs, net	(995		)	(1,104		)
Less: Short-term borrowings and current portion of long-term debt	(105,451		)	(123,848		)
Long-term debt	$	1,240,141		$	1,240,581

(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 March 31, 2018, we had availability of $199.5 million under this facility, after reduction of $0.5 million of outstanding standby letters of credit.


(2)	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% (3.69% as of March 31, 2018). As of March 31, 2018, $64.0 million was available to be borrowed.


(3)	We entered into various short-term term loans which mature semiannually. Principal is payable in monthly installments. Interest is payable monthly, at TIBOR plus 0.15% to 0.20% (weighted-average of 0.18% as of March 31, 2018). As of March 31, 2018, $10.4 million was available to be drawn.


(4)	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 (3.54% as of March 31, 2018). As of March 31, 2018, $19.0 million was available to be drawn.

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. From time to time, Amkor Technology, Inc. also guarantees certain debt 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, 2018.