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18
INOTERA MEMORIES, INC.
NOTES TO FINANCIAL STATEMENTS
(Continued)
Bank Duration Nature Interest rate December 31, 2011
Mega International Commercial Bank
(the managing bank) (1) March 30, 2007~
March 30, 2012 Machinery loan 1.6327%~1.6842% $ 4,498,313
Mega International Commercial Bank
(the managing bank) (1) March 30, 2007~
March 30, 2012 Machinery loan 1.6148%~1.6279% 2,016,853
Mega International Commercial Bank
(the managing bank) (2) May 27, 2010~
May 27, 2015 Machinery loan 1.6505%~1.7484% 34,930,000
Taichung Bank (3) December 24, 2010~
December 24, 2013 Operating use 1.7550%~1.8610% 1,070,000
Taichung Bank (3) December 24, 2010~
December 24, 2013 Operating use 1.8550%~1.9610% 600,000
43,115,166
Less: current portion of long-term loans (16,495,166)
$ 26,620,000
(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, 2011, the actual
number of banks had increased to 27 in total). As of December 31, 2011, 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.
(d) The interest rates under items 1(b) and 1(c) above shall not be lower than the minimum limit of 1.6%
(e) Duration: 5 years.
(f) Repayment: The principal is payable in 6 semi-annual installments starting from 30 months after the
first drawing date.
(g) The Company has issued a promissory note for this syndicated loan.
(h) As of December 31, 2011, the Company's repayments amounted to US$333,335 thousand and
$22,497,500.
(i) The long-term loan is secured by machinery and equipment. As of December 31, 2010 and 2011, the
net book value of these pledged assets amounted to $29,922,295 and $18,988,417, respectively.