Indebtedness

Short-term borrowings consist of:



	April 2, 2016		October 3, 2015
Lines of credit	$	90	$	83
Other short-term debt	1,280		—
Short-term borrowings	$	1,370	$	83

We maintain short-term line of credit facilities with banks throughout the world that are principally demand lines subject to revision by the banks.

Long-term debt consists of:



	April 2, 2016			October 3, 2015
U.S. revolving credit facility	$	702,865		$	675,000
Senior notes	300,000			300,000
Securitization program	100,000			100,000
Obligations under capital leases	911			101
Senior debt	1,103,776			1,075,101
Less current installments	(434		)	(34		)
Long-term debt	$	1,103,342		$	1,075,067

Our U.S. revolving credit facility has a capacity of $1,100,000 and matures on May 22, 2019. It also provides an expansion option, which permits us to request an increase of up to $200,000 to the credit facility upon satisfaction of certain conditions. The credit facility is secured by substantially all of our U.S. assets.

On November 21, 2014, we completed the sale of $300,000 aggregate principal amount of 5.25% senior notes due December 1, 2022 at par with interest paid semiannually on June 1 and December 1 of each year. The aggregate net proceeds of $294,430 were used to repay indebtedness under our U.S. bank credit facility, thereby increasing the unused portion of our revolving credit facility.

The Securitization Program was extended on April 15, 2016 and matures on April 13, 2018 and increases our borrowing capacity to $120,000. Under the Securitization Program, we sell certain trade receivables and related rights to an affiliate, which in turn sells an undivided variable percentage ownership interest in the trade receivables to a financial institution, while maintaining a subordinated interest in a portion of the pool of trade receivables. Interest for the Securitization Program is based on 30-day LIBOR plus an applicable margin. A commitment fee is also charged based on a percentage of the unused amounts available and is not material. The agreement governing the Securitization Program contains restrictions and covenants which include limitations on the making of certain restricted payments, creation of certain liens, and certain corporate acts such as mergers, consolidations and sale of substantially all assets. The Securitization Program has a minimum borrowing requirement equal to the lesser of either 80% of our borrowing capacity or 100% of our borrowing base, which is a subset of the trade receivables sold under this agreement. As of April 2, 2016, our minimum borrowing requirement is $80,000.