Annual report pursuant to Section 13 and 15(d)

Long-Term Debt (Tables)

v3.21.2
Long-Term Debt (Tables)
12 Months Ended
Oct. 02, 2021
Debt Disclosure [Abstract]  
Summary of Debt Obligations

Our debt obligations consisted of the following (in thousands, except interest rates):

 

 

 

Effective
Interest Rate
(1)

 

 

October 2, 2021

 

 

October 3, 2020

 

Term Loan—due on March 9, 2028

 

 

3.25

%

(2)

$

805,950

 

 

$

811,178

 

ABL Credit Facility

 

 

1.25

%

(3)

 

 

 

 

 

Senior Unsecured Notes

 

 

 

 

 

 

 

 

390,000

 

Total long-term debt

 

 

 

 

 

805,950

 

 

 

1,201,178

 

Less: current portion of long-term debt

 

 

 

 

 

(8,100

)

 

 

(8,341

)

Less: unamortized discount

 

 

 

 

 

(3,285

)

 

 

(9,348

)

Less: deferred financing charges

 

 

 

 

 

(8,440

)

 

 

(3,939

)

Long-term debt, net

 

 

 

 

$

786,125

 

 

$

1,179,550

 

 

(1)
Effective interest rates as of October 2, 2021.
(2)
Carries interest at a specified margin over LIBOR between 2.50% and 2.75% with a minimum LIBOR of 0.50%.
(3)
Carries interest at a specific margin between 0.25% and 0.75% with respect to Base Rate loans and between 1.25% and 1.75% with respect to Eurodollar Rate loans.
Schedule of Debt Maturities and Principal Repayments of Indebtedness

The following table summarizes the debt maturities and scheduled principal repayments of our indebtedness as of October 2, 2021 (in thousands):

 

 

 

Amount

 

2022

 

$

8,100

 

2023

 

 

8,100

 

2024

 

 

6,075

 

2025

 

 

10,125

 

2026

 

 

8,100

 

Thereafter

 

 

765,450

 

Total

 

$

805,950