BORROWINGS |
3 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 29, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
BORROWINGS | BORROWINGS: Long-term borrowings, net, are summarized in the following table (in thousands):
The weighted-average interest rate for our senior secured term loan facilities was 7.74% for the three months ended December 29, 2023. The carrying amounts of the Company’s senior secured term loan facilities approximate their fair value as the interest rates are variable and reflective of market rates. As of December 29, 2023, there was $5.3 million of letters of credit outstanding leaving $294.7 million available for borrowing under the revolving credit facility. At December 29, 2023, the Company was in compliance with all covenants under its credit facilities.
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