Debt

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



	March 31, 2012			December 31, 2011
	(In thousands)
Debt of Amkor Technology, Inc.:
Senior secured credit facilities:
$100 million revolving credit facility, LIBOR plus 2.25%-2.75%, due April 2015	$	—		$	—
Senior notes:
7.375% Senior notes, due May 2018	345,000			345,000
6.625% Senior notes, due June 2021, $75 million related party	400,000			400,000
Senior subordinated notes:
6.0% Convertible senior subordinated notes, due April 2014, $150 million related party	250,000			250,000
Debt of subsidiaries:
Amkor Technology Korea, Inc.:
₩50 billion revolving credit facility, CD base interest rate plus 2.20%, due June 2012	—			—
Term loan, bank funding rate-linked base rate plus 1.99%, due May 2013 (1)	—			103,000
Term loan, bank base rate plus 0.5%, due April 2014	107,140			107,140
Term loan, bank base rate plus 1.06% or 1.16%, due July 2014	50,000			50,000
Term loan, foreign currency funding-linked base rate plus 2.30%, due March 2015 (1)	100,000			—
Term loan, bank funding rate-linked base rate plus 1.7%, due March 2016	21,214			12,512
Other:
¥1 billion revolving credit facility, TIBOR plus 0.6%, due September 2012 (Japan)	—			—
Term loan, TIBOR plus 0.8%, due September 2012 (Japan)	6,273			9,495
Term loan, LIBOR plus 2.8%, due April 2012 and January 2013 (China)	25,000			20,000
Term loan, TAIFX plus 2.0%, due April 2015 (Taiwan) (2)	50,040			49,504
	1,354,667			1,346,651
Less: Short-term borrowings and current portion of long-term debt	(53,027		)	(59,395		)
Long-term debt (including related party)	$	1,301,640		$	1,287,256

(1)

In March 2012, Amkor Technology Korea, Inc., a Korean subsidiary (“ATK”) repaid the remaining outstanding balance due May 2013 by entering into a $100.0 million term loan with the same Korean bank, which is due upon maturity in March 2015. The term loan bears interest at a foreign currency funding-linked base rate plus 2.30% (5.47% as of March 31, 2012) to be paid monthly. The term loan is collateralized by substantially all the land, factories and equipment located at our ATK facilities.


(2)	In January 2012, Amkor Technology Taiwan Ltd, a Taiwanese subsidiary, converted the existing NT$1.5 billion term loan from a Taiwanese to a U.S. dollar denominated term loan (approximately $50.0 million). The term loan bears interest at the Taipei Foreign Exchange ("TAIFX") six month U.S. dollar rate plus 2.0% (3.35% as of March 31, 2012). All other terms and conditions remain the same.

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. Our collateralized bank debt agreements and the indentures governing our outstanding notes contain a number of affirmative and negative covenants which could restrict our operations. We were in compliance with all of our covenants as of March 31, 2012.