---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-082089"
form_type: "8-K"
ticker: "MX"
cik: "0001325702"
company_name: "MAGNACHIP SEMICONDUCTOR Corp"
filed_at: "2024-03-29T23:59:59+00:00"
generated_at: "2026-06-04T05:14:26.524399+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Magnachip subsidiary secures KRW 40B (~$28.9M) term loan from Korea Development Bank

## Summary
- Term loan of KRW 40 billion (~$28.9M) fully funded March 26, 2024; initial interest rate 4.86% per annum.
- Loan matures March 26, 2027; monthly interest-only payments with principal due at maturity.
- Secured by pledge of Fab 3 properties in Gumi, Korea via a Kun-Pledge Agreement.
- Prepayment allowed only with penalty: remaining days to maturity x 1.2% / full 3-year term days.
- Proceeds intended for working capital and exploring strategic options to enhance shareholder value.

## SEC filing metadata
- accession: 0001193125-24-082089
- form_type: 8-K
- ticker: MX
- cik: 0001325702
- company_name: MAGNACHIP SEMICONDUCTOR Corp
- filed_at: 2024-03-29T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 2.03
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325702/000119312524082089/0001193125-24-082089-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325702/000119312524082089/d808555d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-082089
- JSON: https://secwatch.observer/filing/0001193125-24-082089.json
- Plain text: https://secwatch.observer/filing/0001193125-24-082089.txt

## Key facts
- Debt Financings
  MAGNACHIP SEMICONDUCTOR Corp incurred term loan of KRW 40,000,000,000 (approximately $28.9 million) with Korea Development Bank at 3-month CD rate quoted by KDB, plus 1.21% maturing March 26, 2027.
  - Instrument: term loan
  - Principal: KRW 40,000,000,000 (approximately $28.9 million)
  - Counterparty: Korea Development Bank
  - Rate: 3-month CD rate quoted by KDB, plus 1.21%
  - Maturity: March 26, 2027
  - Event: incurrence
  source text: The Loan Agreement provides for a working capital term loan (the “Term Loan”) of KRW 40,000,000,000 (approximately $28.9 million based on the KRW/USD exchange rate of KRW 1,340.7:$1 as of March 26, 2024 as quoted by KEB Hana Bank), which was funded in full to MSK on March 26, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1325702/000119312524082089/0001193125-24-082089-index.htm
- Material Agreements
  MAGNACHIP SEMICONDUCTOR Corp entered into Standard Credit Agreement with Korea Development Bank valued at KRW 40,000,000,000 (approximately $28.9 million) (effective 2024-03-26).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: Korea Development Bank
  - Value: KRW 40,000,000,000 (approximately $28.9 million)
  - Effective: 2024-03-26
  source text: executed a Standard Credit Agreement (together with its General Terms and Conditions, the “Loan Agreement”) with Korea Development Bank (“KDB”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1325702/000119312524082089/0001193125-24-082089-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.