BANK BORROWINGS AND LONG-TERM DEBT

3 Months Ended

Jun. 26, 2020

Bank borrowings and long-term debt as of June 26, 2020 are as follows:


	As of June 26, 2020		As of March 31, 2020
	(In thousands)
Term Loan, including current portion, due in installments through June 2022	433,406		433,406
5.000% Notes due February 2023	500,000		500,000
Term Loan due April 2024 - three-month Yen LIBOR plus 0.500%	313,596		310,115
4.750% Notes due June 2025	597,380		597,265
3.750% Notes due February 2026	423,411		—
4.875% Notes due June 2029	661,610		661,908
4.875% Notes due May 2030	323,595		—
India Facilities	138,238		138,238
Other	213,881		210,684
Debt issuance costs	(19,668)		(13,377)
	3,585,449		2,838,239
Current portion, net of debt issuance costs	(162,287)		(149,130)
Non-current portion	$	3,423,162	$	2,689,109

The weighted-average interest rate for the Company's long-term debt was 3.8% and 4.0% as of June 26, 2020 and March 31, 2020, respectively.

Scheduled repayments of the Company's bank borrowings and long-term debt as of June 26, 2020 are as follows:


Fiscal Year Ending March 31,	Amount
	(In thousands)
2021 (1)	$	149,983
2022	212,255
2023	870,178
2024	53,109
2025	313,596
Thereafter	2,005,996
Total	$	3,605,117

(1)Represents estimated repayments for the remaining fiscal nine-month period ending March 31, 2021.

Notes due February 2026 and May 2030

In May 2020, the Company issued $425 million aggregate principal amount of 3.750% Notes due February 2026 (the "2026 Notes"), at 99.617% of face value and $325 million aggregate principal amount of 4.875% Notes due May 2020 (the "2030 Notes" and , together with the 2026 Notes, the " Notes"), at 99.562% of face value. The Company received in aggregate, proceeds of approximately $747 million, net of discount, from the issuance which were used for working capital and other general corporate purposes. The Company incurred and capitalized as a direct reduction to the carrying amount of the Notes presented on the balance sheet approximately $7.1 million of costs in conjunction with the issuance of the Notes.

Interest on the 2026 Notes and the 2030 Notes is payable semi-annually, commencing on August 1, 2020 and November 12, 2020, respectively. The Notes are senior unsecured obligations of the Company and rank equally with all of the Company's other existing and future senior and unsecured debt obligations.

The indenture governing the Notes contains covenants that, among other things, restrict the ability of the Company and certain of the Company's subsidiaries to create liens; enter into sale-leaseback transactions; and consolidate or merge with, or convey, transfer or lease all or substantially all of the Company's assets to, another person, or permit any other person to consolidate, merge, combine or amalgamate with or into the Company. These covenants are subject to a number of significant limitations and exceptions set forth in the indenture. The indenture also provides for customary events of default, including, but not limited to, cross defaults to certain specified other debt of the Company and its subsidiaries. In the case of an event of

default arising from specified events of bankruptcy or insolvency, all outstanding Notes will become due and payable immediately without further action or notice. If any other event of default under the indenture occurs or is continuing, the trustee or holders of at least 25% in aggregate principal amount of the then outstanding 2026 Notes or 2030 Notes may declare all of such series of Notes to be due and payable immediately, but upon certain conditions such declaration and its consequences may be rescinded and annulled by the holders of a majority in principal amount of such series of Notes. As of June 26, 2020, the Company was in compliance with the covenants in the indenture governing the Notes.