Long-Term Debt and Capital Lease Obligations

The following is a summary of long-term debt and capital lease obligations (U.S. dollars in millions):



	September 28, 2012			December 30, 2011
Senior secured revolving credit facility (see Credit Facility below)	$	24.3		$	209.8
Various other notes payable	3.4			4.4
Capital lease obligations	0.7			1.3
Total long-term debt and capital lease obligations	28.4			215.5
Less: Current portion	(26.0		)	(2.2		)
Long-term debt and capital lease obligations	$	2.4		$	213.3

Credit Facility

On July 17, 2009, we entered into a senior-secured revolving credit facility (the “Existing Credit Facility”) with Rabobank Nederland, New York Branch, as administrative agent and lead arranger. The following is a summary of the material terms of the Credit Facility and other working capital facilities (U.S. dollars in millions):



	Term	Maturity Date	Interest Rate at Sept 28, 2012	Borrowing Limit		Available Borrowings
Existing Credit Facility	3.5 years	January 17, 2013	2.75%	$	150.0	$	111.8
Other working capital facilities	Varies	Varies	Varies	23.3		22.7
				$	173.3	$	134.5

On March 28, 2011, we amended the Existing Credit Facility by lowering applicable margins over LIBOR or base rate borrowings that vary with our leverage ratio. The Existing Credit Facility has been classified as current in 2012 due to its maturity date.

On July 25, 2012, we voluntarily lowered the borrowing capacity under the Existing Credit Facility from $300 million to $150 million in order to reduce our unused commitment fee expense.

10. Long-Term Debt and Capital Lease Obligations (continued)

At September 28, 2012, we applied $13.8 million to the letter of credit facility, comprised primarily of certain contingent obligations and other governmental agency guarantees combined with guarantees for purchases of raw materials and equipment. The letter of credit facility includes $0.8 million relating to a debt guarantee for a VIE. We also had $7.9 million in other letters of credit and bank guarantees not included in the letter of credit facility. Refer to Note 5, “Variable Interest Entities”, for further discussion of VIEs.

The Existing Credit Facility requires us to be in compliance with financial and other covenants, including limitations on capital expenditures, the amount of dividends that can be paid in the future, the amount and types of liens and indebtedness, material asset sales and mergers. As of September 28, 2012, we were in compliance with all of the covenants contained in the Existing Credit Facility. The Existing Credit Facility permits borrowings under the revolving commitment with an interest rate determined based on our leverage ratio and spread over LIBOR. In addition, we pay a fee on unused commitments.

On October 23, 2012, we replaced the Existing Credit Facility by entering into a 5 year, $500 million syndicated senior unsecured revolving credit facility maturing on October 23, 2017 (the "Credit Facility") with Bank of America, N.A. as administrative agent and Merrill Lynch, Pierce, Fenner & Smith Inc. as sole lead arranger and sole book manager. Borrowings under the Credit Facility bear interest at a spread over LIBOR that varies with our leverage ratio. The Credit Facility also includes a swing line facility and a letter of credit facility.