LONG-TERM DEBT

Long-term debt consisted of the following:



(dollars in thousands)	September 27, 2014		December 28, 2013		September 28, 2013
Senior notes	$	400,000	$	400,000	$	400,000
Secured revolving credit facility	186,000		186,000		186,000
Total long-term debt	$	586,000	$	586,000	$	586,000

As of September 27, 2014, the Company had approximately $186.0 million in borrowings under its secured revolving credit facility, exclusive of $6.5 million of outstanding letters of credit. Amounts outstanding under the revolving credit facility currently accrue interest at a LIBOR rate plus 2.00%, which, as of September 27, 2014, was 2.15%. As of September 27, 2014, there was approximately $182.5 million available for future borrowing. As of September 27, 2014, The William Carter Company ("TWCC"), a 100% owned subsidiary of Carter's Inc., had outstanding $400 million principal amount of senior notes bearing interest at a rate of 5.25% per annum and maturing on August 15, 2021. The senior notes are unsecured and are fully and unconditionally guaranteed by Carter's, Inc. and certain subsidiaries of TWCC.

As of September 27, 2014, the Company was in compliance with the financial debt covenants under the secured revolving credit facility.