Company: AAOI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001437749-25-015518
Chunk: 16

Company: APPLIED OPTOELECTRONICS, INC.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 16
---

   
       March 31, 2025    December 31, 2024  
 Revolving line of credit with a China bank up to $24.3 million with interest between 4.00% to 4.35%, maturing May 24, 2029  $13,485  $13,466 
 Credit facility with a China bank up to $28.5 million with interest between 3.10% and 4.35%, maturing June 6, 2027   8,638   13,216 
 Total   22,123   26,682 
 Less current portion   (20,312)  (22,369)
 Non-current portion  $1,811  $4,313 

     Bank Acceptance Notes Payable  March 31, 2025  December 31, 2024 
 Bank acceptance notes issued to vendors with a zero handling fees  $23,992  $19,260 

   The current portion of long-term debt is the amount payable within one year of the balance sheet date of  March 31, 2025.
   ​
   Maturities of long-term debt are as follows for the future one-year periods ending  March 31, 2025 (in thousands):
   ​
   
     Within one year  $20,312 
 Beyond one year   1,811 
 Total outstanding  $22,123 

   On  May 24, 2019, the Company’s China subsidiary, Global, entered into a five-year revolving credit line agreement, totaling 180,000,000 RMB (the "SPD Credit Line"), or approximately $25.4 million at that time, and a mortgage security agreement (the "Security Agreement"), with Shanghai Pudong Development Bank Co., Ltd ("SPD"). Borrowing under the SPD Credit Line will be used for general corporate and capital investment purposes, including the issuance of bank acceptance notes to Global’s vendors. Global  may draw upon the SPD Credit Line on an as-needed basis at any time during the 5-year term; however, draws under the SPD Credit Line  may become due and repayable to SPD at SPD’s discretion due to changes in Chinese government regulations and/or changes in Global’s financial and operational condition. Each draw will bear interest equal to SPD’s commercial banking interest rate effective on the day of the applicable draw.