Long-Term Borrowings

3 Months Ended

Sep. 30, 2016

Long-Term Borrowings [Abstract]

Long-Term Borrowings

9. Long-term borrowings

     The Company's Korean senior secured loan facility is described in Note 13 to the Company's audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2016. The current carrying value as of September 30, 2016, is $27.2 million. As of September 30, 2016, the carrying amount of the long-term borrowings approximated fair value. The interest rate in effect on September 30, 2016, was 4.46%.

     On July 29, 2016, the Company utilized approximately KRW 0.3 billion ($0.2 million) of its Facility C revolving credit facility to pay interest due. On the same day, the Company made unscheduled payments of KRW 20 billion ($17.8 million) towards its Facility A loan and KRW 10 billion ($8.9 million) towards its Facility C revolving credit facility. The next scheduled principal payment of $9.1 million (translated at exchange rates applicable as of September 30, 2016) will be made on April 29, 2017.

     Interest expense incurred during the three months ended September 30, 2016 and 2015, was $0.5 million and $0.7 million, respectively. Prepaid facility fees amortized during each of the three months ended September 30, 2016, and 2015, was $0.04 and $0.03 million, respectively.