Debt (Tables)

6 Months Ended

Jun. 30, 2023

Schedule of short-term borrowings and long-term debt

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


	June 30, 2023		December 31, 2022
	(In thousands)
Debt of Amkor Technology, Inc.:
Senior notes:
6.625% Senior notes, due September 2027	$	525,000	$	525,000
Debt of subsidiaries:
Amkor Technology Korea, Inc.:
Term loan, fixed rate at 1.85%, due April 2024 (1)	—		—
Term loan, fixed rate at 2.12%, due December 2028	200,000		200,000
Amkor Technology Japan, Inc.:
Short-term term loans, variable rate (2)	3,451		4,042
Term loan, fixed rate at 1.30%, due July 2023	9,008		29,744
Term loan, fixed rate at 1.35%, due December 2024	59,247		86,943
Term loan, fixed rate at 1.20%, due December 2025	37,766		49,878
Term loan, fixed rate at 1.23%, due December 2026	63,544		79,927
Term loan, fixed rate at 1.59%, due December 2027	97,914		119,738
Amkor Assembly & Test (Shanghai) Co., Ltd.:
Term loans, SOFR plus 0.75%, due March 2024 (3)	45,000		46,000
Term loans, SOFR plus 0.75% due June 2025 (3)	38,000		39,000
Term loans, SOFR plus 0.75%, due 2025 (3)	58,500		59,500
Other:
Credit facility, TAIFX plus the applicable bank rate, due December 2024 (Taiwan) (4)	—		—
Senior secured revolving credit facility, applicable bank rate plus 1.75%, due March 2027 (Singapore) (5)	—		—
	1,137,430		1,239,772
Less: Unamortized discount and deferred debt costs, net	(5,917)		(7,438)
Less: Short-term borrowings and current portion of long-term debt	(155,978)		(143,813)
Long-term debt	$	975,535	$	1,088,521

(1)In April 2021, we entered into a ₩80 billion term loan agreement with the option to borrow and re-borrow the funds up to six times per year through April 2024. Principal is payable at maturity, and interest is payable monthly, at a fixed rate of 1.85%. As of June 30, 2023, ₩80.0 billion, or approximately $61 million, was available to be drawn.

(2)We entered into various short-term term loans which mature semiannually. Principal and interest are payable in monthly installments. Interest as of June 30, 2023 is at an annual base rate equal to the Tokyo Interbank Offered Rate plus 0.18% to 0.27% (weighted average of 0.26% as of June 30, 2023). As of June 30, 2023, $8.4 million was available to be drawn.

(3)In June 2023, Amkor Assembly & Test Co. Ltd. amended all term loans to replace LIBOR with a Secured Overnight Financing Rate (SOFR) plus 0.75% annual base rate (weighted average of 5.80% as of June 30, 2023). This contractual amendment is treated as a modification with no recognized gain or loss.

(4)In March 2022, Amkor Technology Taiwan Ltd. (“ATT”) amended an existing revolving credit facility to reduce availability from $36.0 million to $15.0 million. As of June 30, 2023, $15.0 million was available for future borrowings under such credit facility. (5)In March 2022, Amkor Technology Singapore Holdings Pte. Ltd. (“ATSH”) entered into a $600.0 million senior revolving credit facility (the “2022 Singapore Revolver”), which is guaranteed by Amkor Technology, Inc., ATT and Amkor Advanced Technology, Inc. (“AATT”). The maximum borrowing capacity under the 2022 Singapore Revolver is limited to a base amount equal to the lesser of: (1) $600.0 million; or (2) $250.0 million plus a variable amount equal to 37.5% of our consolidated accounts receivable balance. As of June 30, 2023, $600.0 million was available for future borrowings under the 2022 Singapore Revolver.