Company: AOSL
Filing Date: 2025-02-06
Form Type: 10-Q
Source: 0001387467-25-000017
Chunk: 22

Company: ALPHA & OMEGA SEMICONDUCTOR Ltd
Filing Date: 2025-02-06
Form: 10-Q
Item: Item 1
Chunk 22
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 line of credit facility to one of the Company’s subsidiaries in China. The purpose of the credit facility is to provide working capital borrowings.  The Company could borrow up to approximately RMB 140 million or $19.2 million based on currency exchange rate between RMB and U.S. Dollar on December 31, 2024 with a maturity date of March 15, 2025. As of December 31, 2024, there was no outstanding balance for this loan.In December 2023, Industrial and Commercial Bank of China provided a line of credit facility to one of the Company’s subsidiaries in China. The purpose of the credit facility was to provide working capital borrowings.  The Company could borrow up to approximately RMB 72.0 million, or $9.9 million based on currency exchange rate between RMB and U.S. Dollar on December 31, 2024, with a maturity date of December 31, 2024.  As of December 31, 2024, there was no outstanding balance for this loan and this loan expired.In September 2023, China Construction Bank provided a line of credit facility to one of the Company’s subsidiaries inChina. The purpose of the credit facility is to provide working capital borrowings.  The Company could borrow up to approximately RMB 50 million or $6.9 million based on currency exchange rate between RMB and U.S. Dollar on December 31, 2024 with a maturity date of September 8, 2025.  As of December 31, 2024, there was no outstanding balance for this loan.Accounts Receivable Factoring AgreementOn August 9, 2019, one of the Company’s wholly-owned subsidiaries (the “Borrower”) entered into a factoring agreement with Hongkong and Shanghai Banking Corporation Limited (“HSBC”), whereby the Borrower assigns certain of its accounts receivable with recourse.  This factoring agreement allows the Borrower to borrow up to 70% of the net amount of its eligible accounts receivable of the Borrower with a maximum amount of $30.0 million.  The interest rate is based on the Secured Overnight Financing Rate (“SOFR”), plus 2.01% per annum.  The Company is the guarantor for this agreement.  The Company is accounting for this transaction as a secured borrowing.  In addition, any cash held in the restricted bank account controlled by HSBC has a legal