Debt (Tables)

3 Months Ended

Mar. 31, 2024

Schedule of short-term borrowings and long-term debt

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


	March 31, 2024		December 31, 2023
	(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)	4,136		5,098
Term loan, fixed rate at 1.35%, due December 2024	28,246		40,414
Term loan, fixed rate at 1.20%, due December 2025	25,206		30,913
Term loan, fixed rate at 1.23%, due December 2026	47,605		55,729
Term loan, fixed rate at 1.59%, due December 2027	77,800		89,053
Term loan, fixed rate at 1.80%, due December 2028	109,845		124,078
Amkor Assembly & Test (Shanghai) Co., Ltd.:
Term loans, SOFR plus 0.75%, weighted average of 6.06% as of March 31, 2024, due June 2025	37,000		37,000
Term loans, SOFR plus 0.75%, weighted average of 6.06% as of March 31, 2024, due 2025	57,000		57,500
Term loans, SOFR plus 0.95%, due December 2026 (3)	45,000		45,000
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)	—		—
	1,156,838		1,209,785
Less: Unamortized discount and deferred debt costs, net	(5,524)		(6,329)
Less: Short-term borrowings and current portion of long-term debt	(112,968)		(131,624)
Long-term debt	$	1,038,346	$	1,071,832

(1)In April 2021, we entered into a ₩80.0 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 March 31, 2024, ₩80.0 billion, or approximately $59 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 March 31, 2024 is at an annual base rate equal to the Tokyo Interbank Offered Rate plus 0.18% to 0.20% (weighted average of 0.25% as of March 31, 2024). As of March 31, 2024, $2.9 million was available to be drawn.

(3)In February 2024, Amkor Assembly & Test (Shanghai) Co. Ltd. amended the term loan due December 2026 to reduce the interest rate from SOFR plus 1.40% to SOFR plus 0.95% (weighted average of 6.27% as of March 31, 2024). 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 March 31, 2024, $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 secured 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 March 31, 2024, $600.0 million was available for future borrowings under the 2022 Singapore Revolver.