Our long-term debt consisted of the following at each of August 1, 2020, February 1, 2020, and August 3, 2019:

	August 1,			February 1,		August 3,
(In thousands)	2020			2020		2019
Convertible notes principal	$	415,025		$	-	$	-
Less: unamortized discount		(98,072	)		-		-
Convertible notes, net	$	316,953		$	-	$	-
Revolving credit facility borrowings		200,000			-		-
Total long-term debt, net	$	516,953		$	-	$	-

Convertible Notes- Equity portion, net of tax		68,330			-		-

In April 2020, the Company issued $415 million aggregate principal amount of convertible senior notes due in 2025 (the “Notes”). The Notes have a stated interest rate of 3.75%, payable semi-annually. The Company may redeem the notes, in whole or in part, at any time beginning April 2023. The Company intends to use the net proceeds from the offering for general corporate purposes.

Beginning January 2025, noteholders may convert their notes for approximately 114.3 shares of common stock per $1,000 principal amount.

The Company has the right to settle conversions in any combination of cash and shares of common stock. However, the Company intends to settle the original principal portion of the notes in cash and any conversion value above the principal in stock. Because of this repayment policy, only the conversion spread portion of the amount owed is reflected as dilutive in earning per share.

The effective interest rate for the notes is 10.0% and we calculated the effective yield using a market approach. The remaining amortization period of the discount is 4.75 years.

	13 Weeks Ended				26 Weeks Ended
	August 1,		August 3,		August 1,		August 3,
(In thousands)	2020		2019		2020		2019
Accrued interest for interest payments	$	3,903	$	-	$	4,118	$	-
Amortization of discount		3,982		-		4,195		-
Total interest expense	$	7,885	$	-	$	8,313	$	-

The following table discloses conversion amounts if the notes were all converted as of the end of the period:

(In thousands, except per share amounts)	August 1, 2020
Number of shares convertible		47,437
Conversion price per share	$	8.75
Value in excess of principal if converted	$	7,024,842

In January 2019, the Company entered into an amended and restated Credit Agreement (the “Credit Agreement”) for five-year, syndicated, asset-based revolving credit facilities (the “Credit Facilities”). The Credit Agreement provides senior secured revolving credit for loans and letters of credit up to $400 million, subject to customary borrowing base limitations. The Credit Facilities expire on January 30, 2024.

All obligations under the Credit Facilities are unconditionally guaranteed by certain subsidiaries. The obligations under the Credit Agreement are secured by a first-priority security interest in certain working capital assets of the borrowers and guarantors, consisting primarily of cash, receivables, inventory, and certain other assets and have been further secured by first-priority mortgages on certain real property.

As of August 1, 2020, the Company was in compliance with the terms of the Credit Agreement and has $200.0 million in borrowings and $7.9 million outstanding in stand-by letters of credit.

The current interest rate for borrowings under the Credit Facilities is the one month LIBOR, plus an adjusted spread based on leverage as reflected in the Credit Facilities. The weighted average interest rate for the 13 and 26 weeks ended August 1, 2020 is 1.95% and 2.15%, respectively. The total interest expense for the 13 and 26 weeks ended August 1, 2020 was $1.3 million and $2.4 million, respectively.