10. Financing

Short-term borrowings at March 30, 2013 and September 29, 2012 consist of the following:


		March 30,		September 29,
		2013		2012
	(expressed in thousands)
Bank line of credit, swing line loan (3.25% rate in effect at
March 30, 2013), maturing September 2017	$	5,000	$	-
Notes payable, non-interest bearing		-		230

Total short-term borrowings	$	5,000	$	230

The Company’s credit facility provides for up to $100 million for working capital financing, acquisitions, share purchases, or other general corporate purposes and expires in September 2017. At March 30, 2013 outstanding borrowings under the credit facility were $5.0 million. At March 30, 2013, under the terms of the credit facility borrowings, the fixed interest rate applicable to outstanding credit facility borrowings was 3.25%. At September 29, 2012, the Company had no borrowings outstanding under the $100 million credit facility. Short-term borrowings at September 29, 2012 consisted of non-interest bearing notes payable to vendors by the Company’s Japanese Sensors’ subsidiary. At March 30, 2013, the Company had outstanding letters of credit drawn from the credit facility totaling $10.7 million, leaving $84.3 million of unused borrowing capacity. At September 29, 2012, the Company had outstanding letters of credit drawn from the credit facility totaling $10.1 million, leaving $89.9 million of unused borrowing capacity.