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Long-Term Debt
12 Months Ended
Dec. 30, 2017
Long-Term Debt [Abstract]  
Long-Term Debt

Note 13  Long-Term Debt

On September 1, 2016 Weis Markets entered into a revolving credit agreement with Wells Fargo Bank, National Association (the Credit Agreement).  The Credit Agreement provides for an unsecured revolving credit facility with an aggregate principal amount not to exceed $100.0 million with an additional discretionary amount available of $50.0 million.  As of December 30, 2017,  $35.0 million of the available $100.0 million was borrowed from the credit facility.  The loan will bear interest on the outstanding principal amount at the one month LIBOR rate plus the applicable margin rate of 0.65% until its Maturity on September 1, 2019.  The loan was used to fund the recent acquisitions and the Company’s working capital requirements.  The only financial covenant in the credit facility requires the Company’s minimum EBITDA to be at least $75.0 million.  The Credit Agreement is also being utilized by the Company for letters of credit.   As of December 30, 2017, the Company had $18.2 million, of the available $100.0 million from the credit facility, committed to outstanding letters of credit.  The letters of credit are maintained primarily to support performance, payment, deposit or surety obligations of the Company.  The Company does not anticipate drawing on any of them.



Interest expense related to long-term debt was $946,000 and $242,000 for 2017 and 2016, respectively.