Borrowings (Tables)

9 Months Ended

Mar. 27, 2020

Total Borrowings, Including Revolving and Long-Term Borrowings

The Company’s total borrowings, including current and non-current portions of long-term borrowings, consisted of the following:

(amount in thousands)
Rate	Conditions		Maturity		As of March 27, 2020			As of June 28, 2019
Long-term borrowings, current portion, net:
Long-term borrowings, current portion					$	12,188		$	3,250
Less: Unamortized debt issuance costs – current portion						(32	)		—
Long-term borrowings, current portion, net					$	12,156		$	3,250
Long-term borrowings, non-current portion, net:
Term loan borrowings:
1-month LIBOR +1.50% per annum (1)		Repayable in quarterly installments		June 2023	$	—		$	60,938
3-month LIBOR +1.35% per annum (1)		Repayable in quarterly installments		June 2024		54,844			—
Less: Current portion						(12,188	)		(3,250	)
Less: Unamortized debt issuance costs – non-current portion						(103	)		—
Long-term borrowings, non-current portion, net					$	42,553		$	57,688

(1) We have entered into interest rate swaps that effectively fix a series of our future interest payments on our term loans. Refer to Note 6.

Movements of Long-Term Loans

The movements of long-term borrowings for the nine months ended March 27, 2020 and March 29, 2019 were as follows:

	Nine Months Ended
(amount in thousands)	March 27, 2020			March 29, 2019
Opening balance	$	60,938		$	64,188
Borrowings during the period		60,938			—
Repayments during the period		(67,032	)		(2,438	)
Closing balance	$	54,844		$	61,750

Future Maturities of Long-Term Debt

As of March 27, 2020, future maturities of long-term borrowings during each fiscal year were as follows:

(amount in thousands)
2020 (remaining three months)	$	3,046
2021		12,188
2022		15,234
2023		12,188
2024		12,188
Total	$	54,844