Debt

The Company’s debt consisted of the following (in thousands):



	March 26, 2013		December 25, 2012
Term Loan	$	368,125	$	368,125
Senior Notes	190,000		190,000
Revolving Facility ($100 million) ⁽¹⁾	—		—
	558,125		558,125
Less current portion	—		—
	$	558,125	$	558,125


(1)	The Company had $81.4 million and $81.1 million of borrowing capacity available under its Revolving Facility, net of $18.6 million and $18.9 million of outstanding letters of credit at March 26, 2013 and December 25, 2012, respectively.

The Company’s debt facilities contain restrictions on additional borrowings, certain asset sales, capital expenditures, dividend payments, certain investments and related-party transactions, as well as requirements to maintain various financial ratios. At March 26, 2013, the Company was in compliance with all of its debt covenants.

Under the provisions of the credit agreement for the Term Loan and Revolving Facility (the "Senior Secured Credit Facilities"), the Company is required under certain circumstances to make an excess cash flow mandatory prepayment on the Term Loan not later than 95 days after each fiscal year end. In conjunction with the November 2012 refinancing of the Senior Secured Credit Facilities, the Company made a voluntary prepayment of $5.0 million which combined with the Company's leverage ratio at year-end resulted in no excess cash flow payment due 95 days after the end of fiscal 2012. The Company currently anticipates that it will be required to make a mandatory prepayment in 2014, but such amount cannot be reasonably estimated at this time.