| Summary of Debt Obligations |
The table below presents our debt obligations as of the periods presented (in thousands):
|
|
|
Effective
Interest Rate (1)
|
|
January 2,
2021
|
|
|
October 3,
2020
|
|
|
December 28,
2019
|
|
|
Term Loan—due on August 16, 2023
|
|
3.65%
|
(2)
|
$
|
809,093
|
|
|
$
|
811,178
|
|
|
$
|
819,520
|
|
|
Senior Unsecured Notes—due on August 16, 2024
|
|
|
|
|
—
|
|
|
|
390,000
|
|
|
|
390,000
|
|
|
ABL Credit Facility
|
|
2.50%
|
(3)
|
|
—
|
|
|
|
—
|
|
|
|
6,300
|
|
|
Total long-term debt
|
|
|
|
|
809,093
|
|
|
|
1,201,178
|
|
|
|
1,215,820
|
|
|
Less: current portion of long-term debt
|
|
|
|
|
(8,341
|
)
|
|
|
(8,341
|
)
|
|
|
(8,341
|
)
|
|
Less: noncurrent ABL Credit Facility
|
|
|
|
|
—
|
|
|
|
—
|
|
|
|
(6,300
|
)
|
|
Less: unamortized discount
|
|
|
|
|
(2,317
|
)
|
|
|
(9,348
|
)
|
|
|
(11,049
|
)
|
|
Less: deferred financing charges
|
|
|
|
|
(3,041
|
)
|
|
|
(3,939
|
)
|
|
|
(4,874
|
)
|
|
Long-term debt, net
|
|
|
|
$
|
795,394
|
|
|
$
|
1,179,550
|
|
|
$
|
1,185,256
|
|
|
(1)
|
Effective interest rates as of January 2, 2021.
|
|
(2)
|
Carries interest at a specified margin over LIBOR of 3.50% with a minimum LIBOR of 0.00%.
|
|
(3)
|
Carries interest at a specific margin of 0.75% and 1.00% with respect to Base Rate loans and between 1.75% and 2.00% with respect to Eurodollar Rate loans with a minimum LIBOR of 0.75%.
|
|