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Current and long-term obligations
3 Months Ended
May 01, 2015
Current and long-term obligations  
Current and long-term obligations

 

4.Current and long-term obligations

 

The Company’s senior unsecured credit facilities (the “Facilities”) consist of a senior unsecured term loan facility (the “Term Facility”), which had a balance of $900.0 million at May 1, 2015, and an $850.0 million senior unsecured revolving credit facility (the “Revolving Facility”), which provides for the issuance of letters of credit up to $250.0 million. The Term Facility amortizes in quarterly installments of $25.0 million. The Facilities mature April 11, 2018.

 

Under the Revolving Facility as of May 1, 2015, there were no outstanding borrowings, outstanding letters of credit were $30.6 million, and borrowing availability was $819.4 million. In addition, the Company had additional outstanding letters of credit of $16.6 million not under the Revolving Facility.