Company: AMKR
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0001047127-25-000087
Chunk: 201

Company: AMKOR TECHNOLOGY, INC.
Filing Date: 2025-04-29
Form: 10-Q
Item: Part I, Item 2
Chunk 201
---
  

In December 2024, we signed a Direct Funding Agreement with 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 I, Item 1 of this Form 10-Q.

-27-

The maximum borrowing capacity under the 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 March 31, 2025, we had availability of $600.0 million.  As of March 31, 2025, our foreign subsidiaries also had $57.6 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 1, Item 1 of this Form 10-Q.

As of March 31, 2025, we had debt of $1,149.3 million, with $236.5 million payable within 12 months.  As of March 31, 2025, the interest payment obligations, based on stated coupon rates for fixed rate debt and interest rates applicable at March 31, 2025 for variable rate debt, were $113.2 million during the remaining term of the debt.  Interest payment obligations payable within 12 months were $48.6 million.  We were in compliance with all debt covenants as of March 31, 2025, 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 1, Item 1 of this Form 10-Q.

Certain of our debt agreements have restrictions on dividend payments and the repurchase of stock and subordinated securities.  These restrictions are determined in part by our covenant compliance and on calculations based upon cumulative net income and do not currently have