BANK LOANS

12 Months Ended

Dec. 31, 2018

Debt Disclosure [Abstract]

BANK LOANS

NOTE 11:-  BANK LOANS

The following table summarizes the Company’s long-term bank loans:

Maturities calendar year	As of December 31, 2018			Effective interest rate*
2019	$	15,919			0.60%-0.89%
2020		2,430			0.68%-0.75%
2018 - 2020		900			0.67%
2016 - 2021		900			0.69%
	$	20,149
Less - current maturities bank loans	$	(16,639	)
Long term bank loans net of Current maturities	$	3,510

* The effective interest rate for the period from October 17, 2018 to December 31, 2018.

All the bank loans are denominated in KRW except for one loan, which is denominated in USD at the amount of $3,000. The bank loans bear interest at a variable rate and mainly payable monthly. The bank loans do not contain financial covenants.

During the year ended December 31, 2018, the Company recognized $132 of interest expenses related to the bank loans in the consolidated statement of operations in financial expenses (income), net.

As of December 31, 2018, the Company secured its bank loans with an aggregate principal amount of $11,029 against part of its manufacturing facilities.

Subsequent to the balance sheet date, the Company extended a few of its bank loans for a period of one year with an aggregate principal amount of $12,703. The principal of the extended bank loans is to be paid in one installment due on December 31, 2019.