Debt, Capital Lease Obligations and Other Financing

Debt and capital lease obligations as of September 27, 2014 and September 28, 2013, consisted of (in thousands):



	2014			2013
Debt:
Borrowings under credit facility, expiring on May 15, 2019, interest rate of LIBOR plus 1.125%. See also Note 6, "Derivatives and Fair Value Measurements."	$	75,000		$	75,000
Borrowings under senior notes, expiring on June 15, 2018, interest rate of 5.20%. See also Note 6, "Derivatives and Fair Value Measurements."	175,000			175,000
Other Financing:
Non-cash financing activity related to facility lease in Guadalajara, Mexico. See also Note 4, "Property, Plant and Equipment."	8,000			—
Capital lease:
Capital lease obligations for equipment and facilities located in San Diego, California, Neenah, Wisconsin, Oradea, Romania, and Xiamen, China, expiring on various dates through 2017; weighted average interest rate of 8.8% for fiscal 2014 and 9.3% for fiscal 2013, respectively.	8,414			11,347
Less: current portion	(4,368		)	(3,574		)
Long-term debt and capital lease obligations, net of current portion	$	262,046		$	257,773

The aggregate scheduled maturities of the Company’s debt obligations as of September 27, 2014, are as follows (in thousands):



2015	$	—
2016	—
2017	—
2018	175,000
2019	75,000
Thereafter	—

Total	$	250,000

The aggregate scheduled maturities of the Company’s obligations under capital leases as of September 27, 2014, are as follows (in thousands):



2015	$	4,934
2016	3,457
2017	799
2018	—
2019	—
Thereafter	—

	9,190
Less: interest portion of capital leases	(776		)

Total	$	8,414

On May 15, 2014, the Company entered into an amendment (the "Amendment") to its credit agreement, dated as of May 15, 2012 (as amended, the "Credit Agreement"), related to its five-year senior unsecured credit facility (the “Credit Facility”). As a result of the Amendment, the Credit Facility, which was formerly a $250.0 million facility consisting of a $160.0 million revolving credit facility and a $90.0 million term loan (balance of $75.0 million as of May 15, 2014), was converted into a $235.0 million revolving credit facility, and its termination date was extended from May 15, 2017 to May 15, 2019. The Credit Facility may potentially be increased by $100.0 million to $335.0 million generally by mutual agreement of the Company and the lenders, subject to certain customary conditions. Quarterly principal repayments on the former term loan of $3.8 million per quarter ended on March 28, 2013. As of September 27, 2014, the Company had $75.0 million of revolving borrowings outstanding under the Credit Facility. During fiscal 2014, the Company borrowed and repaid $281.0 million of revolving borrowings under the Credit Facility.

The financial covenants (as defined under the Credit Agreement) require that the Company maintain, as of each fiscal quarter end, a maximum total leverage ratio and a minimum interest coverage ratio. As of September 27, 2014, the Company was in compliance with all financial covenants of the Credit Agreement. Borrowings under the Credit Facility, at the Company's option, bear interest at a defined base rate or the LIBOR rate plus, in each case, an applicable margin based upon the Company's leverage ratio as defined in the Credit Agreement. Rates would increase upon negative changes in specified Company financial metrics and would decrease to no less than LIBOR plus 1.000% or base rate plus 0.000% upon reduction in the current total leverage ratio. As of September 27, 2014, the Company had a borrowing rate of LIBOR plus 1.125%. As of September 27, 2014, all outstanding debt under the Credit Facility is effectively at a fixed interest rate as a result of the interest rate swap contract discussed in Note 6, "Derivatives and Fair Value Measurements." There is no floating rate debt outstanding under the Credit Facility as of September 27, 2014. The Company is required to pay an annual commitment fee on the unused revolver credit commitment based on the Company's leverage ratio; the fee was 0.175% as of September 27, 2014.

In the third quarter of fiscal 2014, the Company incurred approximately $0.2 million in new debt issuance costs in connection with the Amendment. These costs, along with the remaining unamortized portion of the $0.9 million in new debt issuance costs the Company incurred in May 2012, are being amortized over the five-year term of the Credit Facility.

The Company also has outstanding 5.20% Senior Notes, due on June 15, 2018 (the “Notes”); $175.0 million principal of the Notes was outstanding as of both September 27, 2014 and September 28, 2013. At September 27, 2014, the Company was in compliance with all financial covenants relating to the Notes, which are consistent with those in the Credit Agreement discussed above.

Cash paid for interest in fiscal 2014, 2013 and 2012 was $12.7 million, $12.9 million and $16.4 million, respectively.

In the third quarter of fiscal 2014, the Company capitalized certain leased property, plant and equipment related to footprint expansion in Guadalajara, Mexico, for which the Company had direct involvement in construction and will have ongoing involvement subsequent to the completion of construction. This resulted in a non-cash financing transaction of approximately $8.0 million and is reflected in long-term debt and capital lease obligations on the accompanying Consolidated Balance Sheets as of September 27, 2014. Refer to Note 4, "Property, Plant and Equipment" for additional disclosures related to the Guadalajara facility.