secwatch.observer — SEC 8-K summary
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Issuer:     MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK:        0001325702
Form:       8-K
Filed at:   2024-03-29T23:59:59+00:00
Accession:  0001193125-24-082089
Event type: debt
Sentiment:  neutral
Materiality: 0.55
Item codes: 1.01, 2.03
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325702/000119312524082089/0001193125-24-082089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325702/000119312524082089/d808555d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-082089

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