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Debt (Tables)

3 Months Ended

Sep. 28, 2019

Debt consisted of the following:


(In millions)	As of September 28, 2019			As of June 29, 2019
ABL Facility	$	810.0		$	859.0
5.500% Notes due 2024		350.0			350.0
5.500% Notes due 2027		1,060.0			-
Less: Original issue discount and deferred financing costs		(7.9	)		(6.1	)
Long-term debt		2,212.1			1,202.9
Less: current installments		-			-
Total debt, excluding current installments	$	2,212.1		$	1,202.9

ABL Facility [Member]

Summary of Outstanding Borrowings, Availability, and Average Interest Rate under ABL Facility

The following table summarizes outstanding borrowings, availability, and the average interest rate under the ABL Facility:


(Dollars in millions)	As of September 28, 2019			As of June 29, 2019
Aggregate borrowings	$	810.0		$	859.0
Letters of credit under credit agreements	94.7				89.9
Excess availability, net of lenders’ reserves of $39.2 and $38.6		1,248.3			1,182.7
Average interest rate		3.42	%		4.01	%

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details