(9) Debt

Long-term debt

	June 30,
	2012		2011

Revolving bank loans	$	11,000	$	14,050
Term bank loans		31,000		37,000
Mortgage		3,765		3,947
		45,765		54,997
Less current portion		6,713		6,247
	$	39,052	$	48,750

Credit Facilities

On December 31, 2010, the Company entered into a new Credit Agreement (the “Credit Agreement”) with two financial institutions. The Credit Agreement terminated the Amended and Restated Credit Agreement, dated April 23, 2010. Aceto may borrow, repay and reborrow during the period ending December 31, 2015, up to but not exceeding at any one time outstanding $40,000 (the “Revolving Loans”). The Revolving Loans may be (i) Adjusted LIBOR Loans (as defined in the Credit Agreement), (ii) Alternate Base Rate Loans (as defined in the Credit Agreement) or (iii) a combination thereof. As of June 30, 2012, the Company borrowed Revolving Loans aggregating $11,000, which loans are Adjusted LIBOR Loans at an interest rate of 2.25% at June 30, 2012. The Credit Agreement also allows for the borrowing up to $40,000 (the “Term Loan”). The Company borrowed a Term Loan of $40,000 on December 31, 2010. The Term Loan interest may be payable as an (i) Adjusted LIBOR Loan, (ii) Alternate Base Rate Loan, or (iii) a combination thereof. As of June 30, 2012, the remaining amount outstanding under the original amortizing Term Loan is $31,000 and is payable as an Adjusted LIBOR Loan at an interest rate of 2.25% at June 30, 2012. The Term Loan is payable as to principal in twenty (20) consecutive quarterly installments, which commenced on March 31, 2011 and will continue on each June 30, September 30 and December 31st thereafter, each in the amount set forth below opposite the applicable installment, provided that the final payment on the Term Loan Maturity Date (as defined in the Credit Agreement) shall be in an amount equal to the then outstanding unpaid principal amount of the Term Loan:

Installment	Amount

1 through 8	$	1,500
9 through 12	$	1,750
13 through 16	$	2,000
17 through 20	$	3,250

As such, the Company has classified $6,500 of the Term Loan as short-term in the consolidated balance sheet at June 30, 2012. The Credit Agreement also provides that commercial letters of credit shall be issued to provide the primary payment mechanism in connection with the purchase of any materials, goods or services by the Company in the ordinary course of business. The Company had open letters of credit of approximately $199 and $145 as of June 30, 2012 and June 30, 2011, respectively. The terms of these letters of credit are all less than one year. No material loss is anticipated due to non-performance by the counterparties to these agreements.

The Credit Agreement provides for a security interest in all personal property of the Company. The Credit Agreement contains several financial covenants including, among other things, maintaining a minimum level of debt service. The Company is also subject to certain restrictive covenants, including, among other things, covenants governing liens, limitations on indebtedness, limitations on cash dividends, guarantees, sale of assets, sales of receivables, and loans and investments. The Company was in compliance with all covenants at June 30, 2012.

The Company has available lines of credit with foreign financial institutions. At June 30, 2012, the Company had available lines of credit with foreign financial institutions totaling $8,378. In June 2011, the Company drew down $50 from these lines of credit, leaving an available balance of $20,423. The Company has issued a cross corporate guarantee to the foreign banks. Short term loans under these agreements bear interest at a fixed rate of 5.5% at June 30, 2012 and LIBOR plus 0.75% in prior years, which was 0.94% and 1.10% at June 30, 2011 and 2010, respectively. The Company is not subject to any financial covenants under these arrangements.

Under the above financing arrangements, the Company had $42,000 in bank loans and $199 in letters of credit leaving an unused facility of $37,179 at June 30, 2012. At June 30, 2011 the Company had $51,050 in bank loans and $145 in letters of credit leaving an unused facility of $49,278.

Mortgage

On June 30, 2011, the Company entered into a mortgage payable for $3,947 on its new corporate headquarters, in Port Washington, New York. This mortgage payable is secured by the land and building and is being amortized over a period of 20 years. The mortgage payable bears interest at 5.92% and matures on June 30, 2021.

Maturity of Long-term Debt

Long-term debt matures by fiscal year as follows:

2013	$	6,713
2014		7,697
2015		10,697
2016		17,697
2017		197
Thereafter		2,764
	$	45,765