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17
INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
Long-term loans as of December 31, 2009 and 2010, consisted of the following:
(Continued)
(14)
Long-term Loans
Bank
Duration
Nature
Interest rate
December 31, 2009
Mega International Commercial Bank
(the managing bank) (1) March 30, 2007~
March 30, 2012
Machinery loan
0.9755%~1.6842%
22,482,071
Mega International Commercial Bank
(the managing bank) (1) March 30, 2007~
March 30, 2012
Machinery loan
1.5476%~1.6913%
10,645,066
Taichung Bank (3) April 24, 2009~
December 24, 2010
Operating use
1.91%~2.00%
1,070,000
Taichung Bank (3) April 24, 2009~
December 24, 2010
Operating use
2.01%~2.10%
600,000
34,797,137
Less: current portion of long-term
loans
(13,250,880
)
$
21,546,257
Bank
Duration
Nature
Interest rate
December 31, 2010
Mega International Commercial Bank
(the managing bank) (1) March 30, 2007~
March 30, 2012
Machinery loan
1.6327%~1.6842%
$
13,490,192
Mega International Commercial Bank
(the managing bank) (1) March 30, 2007~
March 30, 2012
Machinery loan
1.6148%~1.6279%
5,808,961
Mega International Commercial Bank
(the managing bank) (2) May 27, 2010~
May 27, 2015
Machinery loan
1.6842%
31,409,000
Taichung Bank (3) December 24, 2010~
December 24, 2013
Operating use
1.755%
1,070,000
Taichung Bank (3) December 24, 2010~
December 24, 2013
Operating use
1.855%
600,000
52,378,153
Less: current portion of long-term loans
(12,866,141
)
$
39,512,012
(1)
The Company signed a syndicated loan agreement with Mega International Commercial Bank, the managing bank of the
syndicated loan, and 24 other banks on March 5, 2007 ( as of December 31, 2010, the actual number of banks had
increased to 27 in total). As of December 31, 2010, the Company applied for drawings of US$400,000 thousand and
$26,997,000. The details of this loan are as follows:
(a)
Credit line: US$400,000 thousand and $27,000,000.
(b)
Interest rate for Tranche A: USD 3-month or 6-month London Inter-bank Offered Rate (“LIBOR”) plus margin.
(c)
Interest rate for Tranche B: 90-day or 180-
day commercial paper rate in the secondary market which appears on
Moneyline Telerate, plus margin.