Company: AMKR
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0001047127-25-000030
Chunk: 78

Company: AMKOR TECHNOLOGY, INC.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 7
Chunk 78
---
 make significant investments in equipment and facilities, which are generally made in advance of the related revenues and without firm customer commitments. 

In December 2024, we signed a Direct Funding Agreement with the U.S. Department of Commerce for the award of up to $407 million in government incentives pursuant to the CHIPS Act, and no funds have been received to date.  The award requires us to achieve construction and production milestones over the next several years.  In addition, we receive a 25% investment tax credit on qualified investments in U.S. semiconductor manufacturing under the CHIPS Act.  For additional information, please refer to Note 1 to our Consolidated Financial Statements in Part II, Item 8 of this Form 10-K.

The maximum borrowing capacity under our $600.0 million senior secured revolving credit facility (“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 December 31, 2024, we had availability of $600.0 million.  As of December 31, 2024, our foreign subsidiaries also had $60.0 million available to be borrowed under term loan credit facilities.  For additional information regarding the 2022 Singapore Revolver, please refer to Note 11 to our Consolidated Financial Statements in Part II, Item 8 of this Form 10-K.  

As of December 31, 2024, we had debt of $1,159.5 million, with $236.0 million payable within 12 months.  As of December 31, 2024, the interest payment obligations, based on stated coupon rates for fixed rate debt and interest rates applicable at December 31, 2024 for variable rate debt, were $134.0 million during the remaining term of the debt.  Interest payment obligations payable within 12 months is $49.9 million.  We were in compliance with all debt covenants as of December 31, 2024, and we expect to remain in compliance with these covenants for at least the next 12 months.  For additional information regarding our debt arrangements, please refer to Note 11 to our Consolidated Financial Statements in Part II, Item 8 of this Form 10-K. 

Certain of our debt agreements have restrictions on dividend