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LONG-TERM DEBT

3 Months Ended

Sep. 26, 2012

3. LONG-TERM DEBT

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


	September 26, 2012			June 27, 2012
Term loan	$	231,250		$	237,500
5.75% notes		289,747			289,709
Revolving credit facility		130,000			40,000
Capital lease obligations		47,431			48,015

		698,428			615,224
Less current installments		(27,397	)		(27,334	)

	$	671,031		$	587,890

During the first quarter of fiscal 2013, an additional $90 million was drawn on the revolver primarily to fund share repurchases. As of September 26, 2012, $120 million of credit was available under the revolver.

The term loan and revolving credit facility bear 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 2.50%. Based on our current credit rating, we are paying interest at a rate of LIBOR plus 1.63%. One month LIBOR at September 26, 2012 was approximately 0.22%.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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