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Short-term and Long-term Debt
 3 Months Ended
Sep. 30, 2023
Debt Disclosure [Abstract]  
Short-term and Long-term Debt Short-term and Long-term Debt
Short-term and long-term debt obligations as of September 30, 2023 and June 30, 2023 consisted of the following (in thousands):
 
 September 30,June 30,
 20232023
Line of credit:
2018 Bank of America Credit Facility$— $— 
 2022 Bank of America Credit Facility— — 
 Cathay Bank Line of Credit— 131,583 
 2021 CTBC Credit Lines— — 
 HSBC Bank Credit Facility— — 
 Mega Bank Credit Facility— — 
Total line of credit— 131,583 
Term loan facilities:
 Chang Hwa Bank Credit Facility due October 15, 202623,892 26,853 
 CTBC Term Loan Facility, due June 4, 2030
35,424 38,208 
 2021 CTBC Credit Lines, due August 15, 20264,183 4,721 
 2021 E.SUN Bank Credit Facility, due September 15, 202629,756 33,513 
 2022 ESUN Bank Credit Facility, due August 15, 202715,782 16,756 
 Mega Bank Credit Facility, due September 15, 202637,195 38,668 
Total term loans146,232 158,719 
Total debt146,232 290,302 
Short-term debt and current portion of long-term debt40,843 170,123 
Debt, non-current$105,389 $120,179 
Activities under Revolving Lines of Credit and Term Loans

Available borrowings and interest rates as of September 30, 2023 and June 30, 2023 consisted of the following (in thousands except for percentages):

 
September 30, 2023
June 30, 2023
Available borrowingsInterest rateAvailable borrowingsInterest rate
Line of credit:
2018 Bank of America Credit Facility$350,000 6.80%$350,000 6.57%
2022 Bank of America Credit Facility$20,000 3.36%$20,000 3.36%
Cathay Bank Line of Credit$132,000 7.50%$417 7.08%
2022 CTBC Credit Lines
$— —$105,000 3.33%
2023 CTBC Credit Line
$105,000 
3.33%
$— —
Chang Hwa Bank Credit Facility$20,000 6.51%$20,000 6.58%
 HSBC Bank Credit Facility$50,000 4.50%$50,000 4.50%
 2022 E.SUN Bank Credit Facility$30,000 4.18%$30,000 4.18%
 Mega Bank Credit Facility$20,000 2.55%$20,000 2.55%
Term loan facilities:
Chang Hwa Bank Credit Facility due October 15, 2026$— 1.55%$— 1.55%
CTBC Term Loan Facility, due June 4, 2030
$— 1.20%$— 1.20%
 2021 CTBC Credit Lines, due August 15, 2026$— 1.40%$— 1.40%
2021 E.SUN Bank Credit Facility, due September 15, 2026
$— 1.75%$7,734 1.75%
 2022 ESUN Bank Credit Facility, due August 15, 2027$— 1.75%$— 1.75%
 Mega Bank Credit Facility, due September 15, 2026$— 
 1.40% - 1.60%
$— 
1.40% - 1.60%

See “Part II. Item 8. Financial Statements and Supplementary Data – Note 7. Short-term and Long-term Debt” of the Company’s Annual Report on Form 10-K for the fiscal year ended June 30, 2023 for a more complete description of the Company's credit facilities.

The Company entered into a new General Credit Agreement with CTBC Bank during the three months ended September 30, 2023 with the following terms:

CTBC Bank

2023 CTBC Bank Credit Lines

On September 28, 2023 (the “Effective Date”), the Company's Taiwan subsidiary entered into a new general agreement for omnibus credit lines with CTBC Bank, which replaces the prior CTBC credit lines in their entirety and permits for borrowings, from time to time, thereunder pursuant to various individual credit arrangements and includes the previously issued long and medium term loan facility of NTD 1,550.0 million entered in 2021 and 2020 (the “Long and Medium Loan Facility”), and each of (i) a short-term loan and guarantee line providing credit of up to NTD1,250.0 million and NTD100.0 million, respectively (the “NTD Short Term Loan/Guarantee Line”), (ii) a short-term loan providing a line of credit of up to $40.0 million (the “USD Short Term Loan Line”), and (iii) an export/import o/a loan line providing a line of credit of up to $105.0 million for exports and $50.0 million for imports (the “Export/Import Line,” and, together with the NTD Short Term Loan/Guarantee Line and the USD Short Term Loan Line, the “New CTBC Credit Lines”). Aggregate borrowings under the New CTBC Credit Lines together is subject to a cap of $105.0 million.
Interest rates under each of the individual New CTBC Credit Lines are to be established according to individual credit arrangements, which interest rates shall be subject to adjustment depending on the satisfaction of certain conditions. Each of the NTD Short Term Loan/Guarantee Line and USD Short Term Loan Line are secured by certain of the Company's Taiwan subsidiary’s assets, including certain property, land, and plant. The tenor for each of the individual New CTBC Credit Lines is one year. For the Long and Medium Loan Facility, the Taiwan subsidiary is subject to various financial covenants, including current ratio, debt service coverage ratio, and financial debt ratio requirements. In the event the Taiwan subsidiary does not satisfy such financial covenants, CTBC Bank is permitted to, among other things, reduce the permitted total borrowings to a cap of $70.0 million from $105.0 million. Additional covenants require, among other things, the Company to maintain ownership of all of the capital stock of its Taiwan subsidiary and prohibit secondary mortgages on certain assets securing various of the New CTBC Credit Lines. The New CTBC Credit Lines have customary default provisions permitting CTBC Bank to suspend the extension of credit, reduce the credit line, shorten the credit extension term, or declare all principal and interest amounts immediately due and payable upon the occurrence of an event of default.

The Company's Taiwan subsidiary intends to use borrowings under the New CTBC Credit Lines in connection with financing of eligible accounts receivable and accounts payable (vendor invoices) and to finance additional improvements to the Company’s Bade Manufacturing Facility located in Taiwan.

Principal payments on short-term and long-term obligations are due as follows (in thousands):

Fiscal Year Principal Payments
Remainder of 2024$30,632 
202540,843 
202640,843 
202717,744 
20285,985 
2029 and thereafter10,185 
Total short-term and long-term debt$146,232 

The Company is in compliance with all the covenants for the outstanding debt.