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Borrowings (Tables)
6 Months Ended
Apr. 02, 2021
Debt Disclosure [Abstract]  
Schedule of Long-term Debt
At April 2, 2021 and October 2, 2020, long-term debt consisted of the following (principal amounts in thousands):
Interest RateMaturityApril 2, 2021October 2, 2020
Revolving Credit FacilityLIBOR + applicable margin (1)March 2024$862,794 $152,794 
2021 Term Loan Facility
LIBOR + applicable margin (2)
March 20241,100,250 — 
2020 Term Loan Facility
LIBOR + applicable margin (3)
March 2025 (4)1,022,438 1,025,826 
Fixed-rate notes due:
Senior Notes, Series A4.27%May 2025190,000 190,000 
Senior Notes, Series B4.42%May 2028180,000 180,000 
Senior Notes, Series C4.52%May 2030130,000 130,000 
Less: Current Portion(53,813)— 
Less: Deferred Financing Fees(5,817)(1,679)
Total Long-term debt, net$3,425,852 $1,676,941 
(1)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the Revolving Credit Facility (defined below)), borrowings under the Revolving Credit Facility bear interest at either a eurocurrency rate plus a margin of between 0.875% and 1.625% or a base rate plus a margin of between 0% and 0.625%, including applicable margins. The applicable LIBOR rates including applicable margins at April 2, 2021 and October 2, 2020 were approximately 1.34% and 1.39%.
(2)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the 2021 Term Loan Facility (defined below)), borrowings under the 2021 Term Loan Facility bear interest at either a eurocurrency rate plus a margin of between 0.875%and 1.625% or a base rate plus a margin of between 0% and 0.625%, including applicable margins. The applicable LIBOR rate including applicable margin at April 2, 2021 was approximately 1.56%.
(3)Depending on the Company’s Consolidated Leverage Ratio (as defined in the credit agreement governing the 2020 Term Loan Facility (defined below)), borrowings under the 2020 Term Loan Facility bear interest at either a eurocurrency rate plus a margin of between 0.875%and 1.5% or a base rate plus a margin of between 0% and 0.5%, including applicable margins. The applicable LIBOR rates including applicable margins at April 2, 2021 and October 2, 2020 were approximately 1.34% and 1.37%.
(4)The 2020 Term Loan requires quarterly principal repayments of 1.25%, or $9.125 million and £3.125 million, of the aggregate initial principal amount borrowed.