Debt

3 Months Ended

Oct. 02, 2020

Debt Disclosure [Abstract]

Debt

Debt

Debt consisted of the following as of October 2, 2020 and July 3, 2020:

	October 2, 2020		July 3, 2020
	(in millions)
0.50% convertible senior notes due 2020	$	35	$	35
Variable interest rate Term Loan A-1 maturing 2023	4,520		4,583
Variable interest rate Term Loan B-4 maturing 2023	1,543		1,693
1.50% convertible notes due 2024	1,100		1,100
4.75% senior unsecured notes due 2026	2,300		2,300
Total debt	9,498		9,711
Issuance costs and debt discounts	(126)		(136)
Subtotal	9,372		9,575
Less current portion of long-term debt	(286)		(286)
Long-term debt	$	9,086	$	9,289

The credit agreement governing the revolving credit facility and Term Loan A-1 requires the Company to comply with certain financial covenants, consisting of a leverage ratio and an interest coverage ratio. As of October 2, 2020, the Company was in compliance with these financial covenants.

During the three months ended October 2, 2020, the Company made a voluntary prepayment of $150 million on its Term Loan B-4. Subsequent to October 2, 2020, the 0.50% convertible notes due 2020 were settled in full in accordance with their terms