DEBT AND FINANCING OBLIGATIONS

3 Months Ended

Aug. 26, 2018

12. DEBT AND FINANCING OBLIGATIONS

At August 26, 2018 and May 27, 2018, our debt, including financing obligations was as follows (dollars in millions):


	August 26,		May 27,
	2018		2018
Short-term borrowings:
Revolving credit facility	$	—	$	—
Other credit facilities		8.8		9.6
		8.8		9.6
Long-term debt:
Term loan facility, due 2021		624.3		632.8
4.625% senior notes, due 2024		833.0		833.0
4.875% senior notes, due 2026		833.0		833.0
Lamb Weston BSW installment notes		27.2		28.0
		2,317.5		2,326.8
Financing obligations:
4.35% lease financing obligation due May 2030		66.5		66.8
Lease financing obligations due on various dates through 2040 (a)		13.5		12.2
		80.0		79.0

Total debt and financing obligations		2,406.3		2,415.4
Debt issuance costs		(29.3)		(30.4)
Short-term borrowings		(8.8)		(9.6)
Current portion of long-term debt and financing obligations		(38.7)		(38.7)
Long-term debt, excluding current portion	$	2,329.5	$	2,336.7

(a)

The interest rates on our lease financing obligations range from 2.34% to 5.00% as of August 26, 2018 and 2.39% to 5.00% as of May 27, 2018.

At August 26, 2018, we had no borrowings outstanding under our Revolving Credit Facility (the “Facility”) and $496.6 million of availability under the Facility, which is net of outstanding letters of credit of $3.4 million. For the thirteen weeks ended August 26, 2018, borrowings under the Facility ranged from zero to $29.5 million and the weighted average interest rate for our outstanding borrowings under the Facility was 3.6%.

For the thirteen weeks ended August 26, 2018 and August 27, 2017, we paid $7.3 million and $6.1 million of interest on debt, respectively.

For more information on our debt and financing obligations, interest rates, and debt covenants, see Note 9, Debt and Financing Obligations, of the Notes to Combined and Consolidated Financial Statements in "Part II, Item 8. Financial Statements and Supplementary Data" of the Form 10-K.