Long-Term Debt and Credit Agreements

6 Months Ended

Jul. 28, 2012

Long-Term Debt and Credit Agreements

7. Long-Term Debt and Credit Agreements

Long-term debt consisted of the following:

	July 28, 2012			January 28, 2012
Term Loan	$	1,188,000		$	1,194,000
Notes		400,000			400,000
ABL Facility		—			—
Less current portion of Term Loan		(15,000	)		(15,000	)
Long-term debt	$	1,573,000		$	1,579,000

There were no short-term borrowings under the ABL Facility during the first half of fiscal 2012. Outstanding stand-by letters of credit were $9.2 million and excess availability, as defined, was $240.8 million at July 28, 2012. Additionally, the Company has an unsecured, demand letter of credit facility with HSBC which provides for the issuance of up to $35 million of documentary letters of credit on a no fee basis. Outstanding letters of credit under this facility were $19.4 million and availability was $15.6 million at July 28, 2012.

The significant components of interest expense are as follows:

	For the Twenty-six Weeks Ended		For the Period
	January 29, 2012 to July 28, 2012		March 8, 2011 to July 30, 2011		January 30, 2011 to March 7, 2011
	(Successor)		(Successor)		(Predecessor)
Term Loan	$	28,581	$	23,116	$	—
Notes		16,438		13,238		—
Amortization of deferred financing costs		4,801		4,001		970
Other, net of interest income		951		884		196
Interest expense, net	$	50,771	$	41,239	$	1,166