AMKOR TECHNOLOGY, INC.AMKR
AMKOR TECHNOLOGY, INC. Debt Disclosure
Debt
Short-term borrowings and long-term debt consist of the following:
| December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| (In thousands) | |||||||||||
| Debt of Amkor Technology, Inc.: | |||||||||||
| Senior notes: | |||||||||||
6.625% Senior notes, due September 2027 (1) | $ | — | $ | 525,000 | |||||||
5.875% Senior notes, due October 2033 (2) | 500,000 | $ | — | ||||||||
| Other: | |||||||||||
2025 Revolving Credit Facility, applicable bank rate plus 1.75%, due May 2030 (3) | — | — | |||||||||
Term A Loans, applicable bank rate plus 1.75%, due May 2030 (4) | 500,000 | — | |||||||||
| Debt of subsidiaries: | |||||||||||
| Amkor Technology Korea, Inc.: | |||||||||||
Term loan, fixed rate at 3.95%, due May 2027 (5) | — | — | |||||||||
Term loan, fixed rate at 2.12%, due December 2028 | 150,000 | 200,000 | |||||||||
| Amkor Technology Japan, Inc.: | |||||||||||
| Short-term term loans, variable rate (6) | — | — | |||||||||
Term loan, fixed rate at 1.20%, due December 2025 | — | 13,868 | |||||||||
Term loan, fixed rate at 1.23%, due December 2026 | 16,719 | 33,333 | |||||||||
Term loan, fixed rate at 1.59%, due December 2027 | 40,074 | 59,923 | |||||||||
Term loan, fixed rate at 1.80%, due December 2028 | 67,003 | 89,059 | |||||||||
Term loan, fixed rate at 2.05%, due December 2029 | 87,295 | 108,779 | |||||||||
Term loan, fixed rate at 2.42%, due December 2030 (7) | 95,080 | — | |||||||||
| Amkor Assembly & Test (Shanghai) Co., Ltd.: | |||||||||||
Term loans, SOFR plus 0.75%, due June 2025 | — | 35,000 | |||||||||
Term loans, SOFR plus 0.75%, due 2025 (4) | — | 55,500 | |||||||||
Term loans, SOFR plus 0.95%, due December 2026 (4) | — | 44,000 | |||||||||
| 1,456,171 | 1,164,462 | ||||||||||
| Less: Unamortized discount and deferred debt costs, net | (10,925) | (5,002) | |||||||||
| Less: Short-term borrowings and current portion of long-term debt | (162,430) | (236,029) | |||||||||
| Long-term debt | $ | 1,282,816 | $ | 923,431 | |||||||
(1)In July 2025, we redeemed $125.0 million (the “July Redemption”) of our 2027 Notes. In October 2025, we redeemed the remaining amounts due under our 2027 Notes (the “October Redemption” and, together with the July Redemption, the “2027 Notes Redemptions”). The 2027 Notes Redemptions were funded with a portion of the net proceeds from the $500.0 million Term A Loans and a portion of the net proceeds from our issuance of the 2033 Notes. In accordance with the terms of the indenture governing the 2027 Notes, the redemption price for the 2027 Notes Redemptions was 100% of the principal amount of the 2027 Notes plus accrued and unpaid interest. As a result of the 2027 Notes Redemptions, we recorded $1.8 million in charges for the early extinguishment of debt related costs.
(2)In September 2025, we issued $500.0 million of the 2033 Notes at par value. The 2033 Notes are senior unsecured obligations guaranteed by our wholly-owned subsidiary Guardian. Interest is payable semiannually on April 1 and October 1 of each year, commencing April 1, 2026. We incurred $6.7 million of debt issuance costs associated with the 2033 Notes. The proceeds were used for the September Redemption and general corporate purposes.
(3)In May 2025, we entered into the 2025 Revolving Credit Facility, guaranteed by ATSH and Guardian, that replaced an existing revolving credit facility. The maximum borrowing capacity under the 2025 Revolving Credit Facility is $1.0 billion. The 2025 Revolving Credit Facility includes an uncommitted optional accordion of up to $200.0 million, which may be incurred in the form of revolving commitment increases or term loans. As of December 31, 2025, $1.0 billion was available for future borrowings under the 2025 Revolving Credit Facility.
(4)In June 2025, we amended the 2025 Revolving Credit Facility and created the Term A Loans, which are secured and guaranteed on a pari passu basis to the revolver loans under the existing agreement. The Term A Loans have an aggregate principal amount of $500.0 million and will mature in May 2030. The payments are subject to 2.5% amortization of the original principal amount per year in 2026 and 2027, and 5% thereafter, payable quarterly, with the remaining balance due at maturity. The proceeds were used for the July Redemption, prepayment of AATS Loans and general corporate purposes.
(5)In April 2021, we entered into a ₩80 billion term loan agreement with the option to borrow and re-borrow the funds up to six times per year through April 2024 at a fixed rate of 1.85%. In May 2024, we replaced this loan by entering into a ₩80.0 billion (approximately $59 million) term loan agreement with the option to borrow and re-borrow the funds up to six times per year through May 2027. Principal is payable at maturity, and interest is payable monthly at a fixed rate of 3.95%. As of December 31, 2025, ₩80.0 billion, or approximately $55 million, was available to be drawn.
(6)We entered into various short-term term loans which mature semiannually. Principal and interest are payable in monthly installments. As of December 31, 2025, $3.2 million was available to be drawn.
(7)In December 2025, we borrowed ¥14.9 billion (US$96.1 million) under a new term loan agreement due December 2030, guaranteed by Amkor Technology, Inc. and our subsidiary, ATSH. Principal is due in 20 equal, quarterly installments plus accrued interest, through maturity.
Certain of our debt is collateralized by the land, buildings, equipment and capital stock of subsidiaries. As of December 31, 2025 the collateralized debt balance was $956.2 million, of which $640.4 million of assets and subsidiary capital stock were pledged as collateral.
Interest Rates
Interest is payable semiannually on our senior notes and quarterly or monthly on our other fixed- and variable-rate debt. Refer to the table above for the interest rates on our fixed-rate debt and to the table below for the interest rates on our variable-rate debt.
| December 31, | |||||||||||
| 2025 | 2024 | ||||||||||
| Debt of Amkor Technology, Inc.: | |||||||||||
Term A Loans, applicable bank rate plus 1.75% due May 2030 | 5.42 | % | — | % | |||||||
| Amkor Assembly & Test (Shanghai) Co., Ltd.: | |||||||||||
Term loans, SOFR plus 0.75% due June 2025 | — | % | 5.15 | % | |||||||
Term loans, SOFR plus 0.75%, due 2025 | — | % | 5.15 | % | |||||||
Term loans, SOFR plus 0.95%, due December 2026 | — | % | 5.28 | % | |||||||
Compliance with Debt Covenants
The debt of Amkor Technology, Inc. is structurally subordinated in right of payment to all existing and future debt and other liabilities of our subsidiaries. From time to time, Amkor Technology, Inc., ATSH and Guardian guarantee certain debt of our subsidiaries. The agreements governing our indebtedness contain affirmative and negative covenants, including, among others, covenants to maintain a minimum interest coverage ratio and a maximum consolidated leverage ratio, which restrict our ability to pay dividends and could restrict our operations. These restrictions do not currently have a material impact on our ability to make dividend payments or stock repurchases.
We were in compliance with all debt covenants at December 31, 2025 and 2024.
Maturities
| Total Debt | |||||
| (In thousands) | |||||
| Payments due for the year ending December 31, | |||||
| 2026 | $ | 162,430 | |||
| 2027 | 145,711 | ||||
| 2028 | 138,174 | ||||
| 2029 | 65,840 | ||||
| 2030 | 444,016 | ||||
| Thereafter | 500,000 | ||||
| Total debt | $ | 1,456,171 | |||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 20, 2026 | Showing above |
| 2024 | Feb 21, 2025 | |
| 2023 | Feb 16, 2024 | |
| 2022 | Feb 22, 2023 | |
| 2021 | Feb 18, 2022 | |
| 2020 | Feb 19, 2021 | |
| 2019 | Feb 19, 2020 | |
| 2018 | Feb 22, 2019 | |
| 2017 | Feb 23, 2018 | |
| 2016 | Feb 24, 2017 | |
| 2015 | Feb 22, 2016 | |
About Debt Disclosures
Debt disclosures detail a company's borrowing structure — the types of instruments, interest rates, maturity schedule, and covenant restrictions that define its financial obligations and flexibility. This section is essential for assessing refinancing risk, interest rate exposure, and the margin of safety against financial distress.
Key signals: the maturity schedule reveals concentration risk — large maturities within 1-2 years during tight credit markets can force dilutive refinancing or asset sales. Compare the fair value of debt against carrying amount to gauge whether the market views the company's credit risk differently than the balance sheet suggests. Watch covenant compliance disclosures for tightening cushions, especially leverage and interest coverage ratios. Variable-rate debt exposure quantifies sensitivity to interest rate changes. Secured versus unsecured mix affects recovery rates and future borrowing capacity. Compare net debt-to-EBITDA against industry peers and covenant limits to assess financial health.