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Long-Term Debt
3 Months Ended
Sep. 24, 2017
Debt Disclosure [Abstract]  
Long-Term Debt

8.  Long-Term Debt

Debt Obligations

The following table presents the total balances outstanding for UNIFI’s debt obligations, their scheduled maturity dates and the weighted average interest rates for borrowings as well as the applicable current portion of long-term debt:

 

 

 

 

 

Weighted Average

 

 

 

 

 

 

Scheduled

 

Interest Rate as of

 

 

Principal Amounts as of

 

 

 

Maturity Date

 

September 24, 2017

 

 

September 24, 2017

 

 

June 25, 2017

 

ABL Revolver

 

March 2020

 

 

3.1%

 

 

$

9,600

 

 

$

9,300

 

ABL Term Loan (1)

 

March 2020

 

 

3.3%

 

 

 

92,500

 

 

 

95,000

 

Capital lease obligations

 

(2)

 

 

3.8%

 

 

 

23,383

 

 

 

25,168

 

Total debt

 

 

 

 

 

 

 

 

125,483

 

 

 

129,468

 

Current portion of capital lease obligations

 

 

 

 

 

 

 

 

(7,065

)

 

 

(7,060

)

Current portion of other long-term debt

 

 

 

 

 

 

 

 

(10,000

)

 

 

(10,000

)

Unamortized debt issuance costs

 

 

 

 

 

 

 

 

(932

)

 

 

(1,026

)

Total long-term debt

 

 

 

 

 

 

 

$

107,486

 

 

$

111,382

 

 

(1)

Includes the effects of interest rate swaps.

(2)

Scheduled maturity dates for capital lease obligations range from July 2018 to November 2027.

ABL Facility

On March 26, 2015, Unifi, Inc. and its subsidiary, Unifi Manufacturing, Inc., entered into an Amended and Restated Credit Agreement for a $200,000 senior secured credit facility (the “ABL Facility”) with a syndicate of lenders.  The ABL Facility consists of a $100,000 revolving credit facility (the “ABL Revolver”) and a term loan that can be reset up to a maximum amount of $100,000, once per fiscal year, if certain conditions are met (the “ABL Term Loan”). The ABL Facility has a maturity date of March 26, 2020.

Scheduled Debt Maturities

The following table presents the scheduled maturities of UNIFI’s outstanding debt obligations for the remainder of fiscal 2018 and the fiscal years thereafter:

 

 

 

Fiscal 2018

 

 

Fiscal 2019

 

 

Fiscal 2020

 

 

Fiscal 2021

 

 

Fiscal 2022

 

 

Thereafter

 

ABL Revolver

 

$

 

 

$

 

 

$

9,600

 

 

$

 

 

$

 

 

$

 

ABL Term Loan

 

 

7,500

 

 

 

10,000

 

 

 

75,000

 

 

 

 

 

 

 

 

 

 

Capital lease obligations

 

 

5,275

 

 

 

6,996

 

 

 

5,519

 

 

 

2,624

 

 

 

2,418

 

 

 

551

 

Total

 

$

12,775

 

 

$

16,996

 

 

$

90,119

 

 

$

2,624

 

 

$

2,418

 

 

$

551