DEBT (Tables)

3 Months Ended

Jul. 02, 2022

Debt Disclosure [Abstract]

Summary of Debt at Fair Value

The carrying value of the Company's outstanding debt as of July 2, 2022 and April 2, 2022 was as follows:

(in thousands)	July 2, 2022		April 2, 2022
4.75% Senior Notes	$	494,925	$	494,737
Term loan facility	1,006,412		1,005,546

Summary of Debt Redemption

The Company may redeem all or part of the 4.75% Senior Notes, upon not less than a 15-day or more than a 60-day notice, however, the applicable redemption price will be determined as follows:

	Redemption Period Requiring Payment of:		Redemption Up To 40% Using Cash Proceeds From An Equity Offering (3)
	Make-Whole (1)	Premium (2)	Date	Specific Price
4.75% Senior Notes	Prior to March 1, 2024	On or after March 1, 2024	Prior to March 1, 2024	104.75%

(1) If the Company redeems the notes prior to the applicable date, the price is principal plus a make-whole premium, which means, the greater of (i) 1.0% of the principal or (ii) the excess of the present value of the redemption price at March 1, 2024 plus interest through March 1, 2024 over the principal amount.

(2) If the Company redeems the notes on or after the applicable date, the price is principal plus a premium which declines over time, as specified in the applicable indenture, together with accrued and unpaid interest.

(3) If the Company redeems the notes prior to the applicable date with net cash proceeds of one or more equity offerings, the price is equal to the amount specified above, together with accrued and unpaid interest, subject to a maximum redemption of 40% of the aggregate principal amount of the respective note being redeemed and at least 50% of the aggregate principal amount remains outstanding immediately after any such redemption (unless the notes are redeemed or repurchased substantially concurrently).