LONG-TERM DEBT

Long-term debt consists of the following (in thousands):



	March 23, 2016			June 24, 2015
Revolving credit facility	$	590,250		$	383,750
3.88% notes	299,788			299,766
2.60% notes	249,925			249,899
Capital lease obligations	38,302			40,849
	1,178,265			974,264
Less current installments	(3,605		)	(3,439		)
	$	1,174,660		$	970,825

During the first nine months of fiscal 2016, $256.5 million was drawn from the $750 million revolving credit facility primarily to fund the acquisition of Pepper Dining and for share repurchases. We repaid a total of $50.0 million in the second and third quarters.

The maturity date of the $750 million revolving credit facility is March 12, 2020. The revolving credit facility bears interest of LIBOR plus an applicable margin, which is a function of our credit rating and debt to cash flow ratio, but is subject to a maximum of LIBOR plus 2.00%. Based on our current credit rating, we are paying interest at a rate of LIBOR plus 1.38%. One month LIBOR at March 23, 2016 was approximately 0.43%. As of March 23, 2016, $159.8 million of credit is available under the revolving credit facility.

Our debt agreements contain various financial covenants that, among other things, require the maintenance of certain leverage and fixed charge coverage ratios. We are currently in compliance with all financial covenants.