Note 6—Long‑term Debt

Long‑term debt consisted of the following (dollars in thousands):


	September 29,		December 30,
	2018		2017
Term Loan A, due 2021	$	344,875	$	378,250
Term Loan B, due 2022		47,637		103,425
Debt owed to Rambler On		1,500		3,000
Total debt		394,012		484,675
Current maturities of long‑term debt		(47,050)		(47,050)
Total long‑term debt		346,962		437,625
Unamortized deferred financing fees		(6,219)		(8,993)
Total long‑term debt, net	$	340,743	$	428,632

Per the terms of the Rambler On purchase agreement (see Note 9), the Company issued Rambler On an unsecured promissory note on May 16, 2017 for the principal amount of $3.0 million with a term of two years (payable 50% on the first anniversary and 50% on the second anniversary with 5% interest). As of September 29, 2018, we had $1.5 million outstanding and classified as short‑term debt.

As of September 29, 2018, we had issued $20.0 million in letters of credit with a 4.0% annual fee to supplement our supply chain finance program. While our issuance of letters of credit does not increase our borrowings outstanding under our revolving credit facility, it does reduce the amount available.

As of September 29, 2018, we were in compliance with all covenants under the Credit Facility, which governs our term loan A and term loan B.