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DEBT
 6 Months Ended
Jun. 30, 2025
DEBT  
DEBT

9.

DEBT

The Company repaid the outstanding balance of $200.0 million on long-term debt in April 2025. As of December 31, 2024, the Company’s long-term debt consisted of the following:

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​

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December 31, 

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2024

Term loan

​

$

375,000

Revolving credit facility

​

 

—

Total debt

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375,000

Less: unamortized debt issuance costs

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(1,049)

Total debt, net of unamortized debt issuance costs

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373,951

Less: current portion of long-term debt

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—

Long-term debt

​

$

373,951

​

In May 2024, the Company entered into a credit agreement with JPMorgan Chase Bank, N.A., as administrative agent, and certain other lenders, which provides for senior unsecured credit facilities in an aggregate principal amount of $1.50 billion (collectively, the “Credit Facilities”). The Credit Facilities consist of a $750.0 million term loan (the “Term Loan”) and up to $750.0 million in multicurrency revolving loan commitments (the “Revolving Credit Facility”). The Term Loan was repaid in April 2025 with no additional borrowings permitted. The Revolving Credit Facility matures in May 2029. Borrowings under the Revolving Credit Facility bear interest at a variable rate per annum equal to the applicable rate plus margin (as defined in the Credit Facilities). Borrowings may be repaid at any time during the term of the Revolving Credit Facility and may be reborrowed prior to the maturity date. As of June 30, 2025, no borrowings were outstanding under the Credit Facilities, and the Company was in compliance with all covenants under the Credit Facilities.

Additionally, the Company has a line of credit of up to $15.0 million with HSBC Bank (China) Company Limited, Shanghai Branch. As of June 30, 2025, no amount was outstanding on this line of credit.