Note 12 – Debt

Debt due within one year was as follows:


(In thousands)	November 27, 2015		February 28, 2015		November 28, 2014
Current portion of term loan	$	—	$	—	$	20,000
Accounts receivable facility		—		—		3,800

	$	—	$	—	$	23,800

Long-term debt and their related calendar year due dates as of November 27, 2015, February 28, 2015 and November 28, 2014, respectively, were as follows:


(In thousands)	November 27, 2015			February 28, 2015			November 28, 2014
Term loan, due 2019	$	185,000		$	250,000		$	325,000
7.375% senior notes, due 2021		225,000			225,000			225,000
Revolving credit facility, due 2018		91,800			4,300			48,000
6.10% senior notes, due 2028		181			181			181
Unamortized financing fees		(4,146	)		(6,752	)		(7,949	)

		497,835			472,729			590,232
Current portion of term loan		—			—			(20,000	)

	$	497,835		$	472,729		$	570,232

At November 27, 2015, the balances outstanding on the term loan facility and revolving credit facility bear interest at a rate of approximately 2.7% and 2.7%, respectively. The revolving credit facility and accounts receivable facility provide the Corporation with funding of up to $250 million and $50 million, respectively. Outstanding letters of credit, which reduce the total credit available under the revolving credit and the accounts receivable facilities, totaled $26.5 million at November 27, 2015.

In March 2015 the Corporation made a voluntary prepayment of $65.0 million on the term loan facility, thereby eliminating all future quarterly installment payments prior to this facility’s August 9, 2019 maturity date. As a result of this prepayment, the Corporation expensed an additional $1.8 million of unamortized financing fees in the current year first quarter.

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 $234.7 million (at a carrying value of $225.2 million), $238.2 million (at a carrying value of $225.2 million) and $238.0 million (at a carrying value of $225.2 million) at November 27, 2015, February 28, 2015 and November 28, 2014, 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 $275.9 million (at a principal carrying value of $276.8 million), $251.8 million (at a principal carrying value of $254.3 million), and $369.6 million (at a principal carrying value of $373.0 million) at November 27, 2015, February 28, 2015 and November 28, 2014, respectively.

In the prior year third quarter, the Corporation amended the Credit Agreement which provides for the term loan facility and revolving credit facility. As a result of this amendment and certain changes in the syndicated lending group, the Corporation expensed $1.9 million of unamortized financing fees and capitalized $1.1 million of new fees in the quarter ended November 28, 2014.

At November 27, 2015, the Corporation was in compliance with the financial covenants under its borrowing agreements.