LONG-TERM DEBT AND REVOLVING CREDIT FACILITY

At February 25, 2018, we had a revolving credit facility (the "Facility") with a syndicate of financial institutions that provides for a maximum aggregate principal amount outstanding at any one time of $1.25 billion (subject to increase to a maximum aggregate principal amount of $1.75 billion with the consent of the lenders).

During the third quarter of fiscal 2018, we entered into a term loan agreement (the "Credit Agreement") with a financial institution. The Credit Agreement provides for term loans to the Company in an aggregate principal amount not in excess of $300.0 million. Subsequent to the third quarter of fiscal 2018, we borrowed the full amount of the $300.0 million provided for under the Credit Agreement. The Credit Agreement matures on February 26, 2019. The term loan will bear interest at a rate equal to three-month LIBOR plus 0.75% per annum and is fully prepayable without penalty.

As of February 25, 2018, we were in compliance with all financial covenants.

During the third quarter of fiscal 2018, we repaid the remaining principal balance of $119.6 million of our 1.9% senior notes on the maturity date of January 25, 2018.

During the third quarter of fiscal 2018, we repaid the remaining capital lease liability balance of $28.5 million in connection with the early exit of an unfavorable lease contract (see Note 6).

Subsequent to the third quarter of fiscal 2018, we repaid the remaining principal balance of $70.1 million of our 2.1% senior notes on the maturity date of March 15, 2018.

During the second quarter of fiscal 2018, we issued $500.0 million aggregate principal amount of floating rate notes due October 9, 2020. The notes bear interest at a rate equal to three-month LIBOR plus 0.50% per annum.

During the third quarter of fiscal 2017, we repaid the remaining principal balance of $224.8 million of our 5.819% senior notes due 2017 and $248.2 million principal amount of our 7.0% senior notes due 2019, in each case prior to maturity, resulting in a net loss on early retirement of debt of $32.7 million.

In connection with the Spinoff (see Note 3), Lamb Weston issued to us $1.54 billion aggregate principal amount of senior notes (the "Lamb Weston notes"). On November 9, 2016, we exchanged the Lamb Weston notes for $250.2 million aggregate principal amount of our 5.819% senior notes due 2017, $880.4 million aggregate principal amount of our 1.9% senior notes due 2018, $154.9 million aggregate principal amount of our 2.1% senior notes due 2018, $86.9 million aggregate principal amount of our 7.0% senior notes due 2019, and $71.1 million aggregate principal amount of our 4.95% senior notes due 2020 (collectively, the "Conagra notes"), which had been purchased in the open market by certain investment banks prior to the Spinoff. Following the exchange, we canceled the Conagra notes. These actions resulted in a net loss of $60.6 million as a cost of early retirement of debt.

Net interest expense from continuing operations consists of:



	Thirteen weeks ended						Thirty-nine weeks ended
	February 25, 2018			February 26, 2017			February 25, 2018			February 26, 2017
Long-term debt	$	40.9		$	46.5		$	118.4		$	164.0
Short-term debt	0.4			0.2			1.5			0.6
Interest income	(0.8		)	(1.3		)	(2.8		)	(2.8		)
Interest capitalized	(0.7		)	0.3			(2.9		)	(3.8		)
	$	39.8		$	45.7		$	114.2		$	158.0