v3.26.1
Debt
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Debt

NOTE 9 – Debt

Borrowings outstanding as of June 30, 2026 and December 31, 2025 are set forth in the table below:

 

 

June 30,

 

 

December 31,

 

 

 

 

Current Amount

Description

 

2026

 

 

2025

Interest Rate

 

Maturity

Short-term debt

 

$

18,560

 

 

$

30,264

 

 

Various indices plus margin

 

Various during next 12 months

 

 

 

 

 

 

 

 

 

 

 

Long-term debt

 

 

 

 

 

 

 

 

 

 

Notes payable to Bank of Taiwan

 

 

1,366

 

 

 

1,479

 

 

2-yr deposit rate floating plus 0.1148%

 

June 2033

Notes payable to Bank of Taiwan

 

 

4,700

 

 

 

4,770

 

 

2-yr deposit rate floating plus 0.082%

 

October 2027

Notes payable to CTBC Bank

 

 

3,133

 

 

 

3,180

 

 

TAIBOR 3M plus 0.5%

 

March 2028

Notes payable to CTBC Bank

 

 

-

 

 

 

3,180

 

 

TAIBOR 3M plus 0.5%

 

April 2027

Notes payable to CTBC Bank

 

 

10,865

 

 

 

11,384

 

 

TAIBOR 3M plus 0.5%

 

May 2028

Notes payable to E Sun Bank

 

 

65

 

 

 

95

 

 

1-M deposit rate floating plus 0.08%

 

July 2027

Notes payable to E Sun Bank

 

 

809

 

 

 

918

 

 

1-M deposit rate floating plus 0.08%

 

July 2030

Notes payable to E Sun Bank

 

 

71

 

 

 

99

 

 

1 M time deposit rate + 1.4%

 

October 2027

Notes payable to Taishin Bank

 

 

137

 

 

 

258

 

 

2.82%

 

January 2027

Notes payable to Taishin Bank

 

 

372

 

 

 

-

 

 

2.82%

 

January 2028

Notes payable to Chang Hwa Bank

 

 

31

 

 

 

32

 

 

2.22%

 

November 2030

Notes payable to Chang Hwa Bank

 

 

47

 

 

 

48

 

 

2.22%

 

December 2030

Notes payable to Chang Hwa Bank

 

 

313

 

 

 

223

 

 

2.22%

 

January 2031

Total long-term debt

 

 

21,909

 

 

 

25,666

 

 

 

 

 

Less: Current portion of long-term debt

 

 

(1,611

)

 

 

(1,442

)

 

 

 

 

Total long-term debt, net of current portion

 

$

20,298

 

 

$

24,224

 

 

 

 

 

Short-term debt

Our Asia subsidiaries maintain credit facilities with several financial institutions through our foreign entities worldwide totaling $148.9 million. Other than two Taiwanese credit facilities that are collateralized by assets, our foreign credit lines are unsecured, uncommitted and contain no restrictive covenants. These credit facilities bear interest at the Taipei Interbank Offered Rate (or similar indices) plus a specified margin. Interest payments are due monthly on outstanding amounts under the credit lines. The unused and available credit under the various facilities as of June 30, 2026, was approximately $129.9 million, net of $18.6 million advanced under our foreign credit lines and $0.4 million credit used for import and export guarantee.

Long-term debt

The Company maintains a long-term credit facility (“Credit Agreement”). The Credit Agreement consists of a Revolving Credit Facility in the amount of $225.0 million, including a swing line sublimit equal to the lesser of $50.0 million and the Revolving Credit Facility, a letter of credit sublimit equal to the lesser of $100.0 million and the Revolving Credit Facility, and an alternative currency sublimit equal to the lesser of $40.0 million and the Revolving Credit Facility. The Company has the option to increase the Credit Facility and/or incur Incremental Term Loans in an aggregate principal amount of up to $350.0 million. The Company’s obligations under the Credit Agreement are secured by a lien on substantially all assets of the Company and certain of its subsidiaries. There was no outstanding balance at June 30, 2026. In addition to our U.S. Credit Agreement, our 53% owned subsidiary, ERIS, had long-term debt of $20.9 million and $25.0 million, at June 30, 2026 and December 31, 2025, respectively, from local Taiwan banks. The outstanding ERIS debt matures in various periods from 2026 through 2033.