Note 12 – Debt

Debt due within one year, which represents the current maturity of the term loan, totaled $20.0 million as of both August 29, 2014 and February 28, 2014 and $15.0 million as of August 30, 2013.

Long-term debt and their related calendar year due dates as of August 29, 2014, February 28, 2014 and August 30, 2013, respectively, were as follows:


(In thousands)	August 29, 2014			February 28, 2014			August 30, 2013
Term loan, due 2019	$	330,000		$	340,000		$	350,000
7.375% senior notes, due 2021		225,000			225,000			225,000
Revolving credit facility, due 2018		—			4,500			13,900
6.10% senior notes, due 2028		181			181			181
Unamortized financing fees		(9,591	)		(10,567	)		(10,601	)

		545,590			559,114			578,480
Current portion of term loan		(20,000	)		(20,000	)		(15,000	)

	$	525,590		$	539,114		$	563,480

At August 29, 2014, the balances outstanding on the term loan facility bear interest at a rate of approximately 4.0%. The revolving credit facility provides the Corporation with funding of up to $250 million. The Corporation is also a party to an accounts receivable facility that provides up to $50 million of additional funding. There were no amounts outstanding under the accounts receivable facility as of August 29, 2014, February 28, 2014 and August 30, 2013, respectively. Outstanding letters of credit, which reduce the total credit available under the revolving credit and the accounts receivable facilities, totaled $27.7 million at August 29, 2014.

The total fair value of the Corporation’s publicly traded debt, which was considered a Level 1 valuation as it was based on quoted market prices, was $240.3 million (at a carrying value of $225.2 million), $234.7 million (at a carrying value of $225.2 million) and $222.9 million (at a carrying value of $225.2 million) at August 29, 2014, February 28, 2014 and August 30, 2013, respectively.

The total fair value of the Corporation’s non-publicly traded debt, which was considered a Level 2 valuation as it was based on comparable privately traded debt prices, was $330.0 million (at a principal carrying value of $330.0 million), $344.5 million (at a principal carrying value of $344.5 million), and $363.9 million (at a principal carrying value of $363.9 million) at August 29, 2014, February 28, 2014 and August 30, 2013, respectively.

On August 8, 2014, the Corporation amended its accounts receivable facility. The amendment modified the accounts receivable facility to, among other things: (i) extend the scheduled termination date to August 7, 2015 and (ii) reduce the fees associated with this facility.

Subsequent to the end of the second quarter, the Corporation amended the Credit Agreement which provides for the term loan facility and revolving credit facility. The amendment modifies the Credit Agreement to, among other things: (i) reduce the interest rates applicable to the term loan and revolving loans, (ii) eliminate the LIBOR floor interest rate used in the determination of interest charged on Eurodollar revolving loans, (iii) reduce the commitment fee applicable to unused revolving commitments and (iv) reset the usage term of the general restricted payment basket with effect from September 5, 2014.

At August 29, 2014, the Corporation was in compliance with the financial covenants under its borrowing agreements.