LONG-TERM DEBT

Long-term debt consists of the following (in thousands):



	September 25, 2013			June 26, 2013
3.88% notes	$	299,714		$	299,707
2.60% notes	249,838			249,829
Term loan	206,250			212,500
Revolving credit facility	40,000			0
Capital lease obligations	45,032			45,681
	840,834			807,717
Less current installments	(27,566		)	(27,596		)
	$	813,268		$	780,121

During the first quarter of fiscal 2014, $60 million was drawn on the revolver primarily to fund share repurchases. We repaid $20 million of the outstanding balance leaving $210 million of credit available under the revolver as of September 25, 2013.

The term loan and revolving credit facility bear interest of LIBOR plus an applicable margin, which is a function of our credit rating and debt to cash flow ratio, but is subject to a maximum of LIBOR plus 2.50%. Based on our current credit rating, we are paying interest at a rate of LIBOR plus 1.63%. One month LIBOR at September 25, 2013 was approximately 0.18%. Our debt agreements contain various financial covenants that, among other things, require the maintenance of certain leverage and fixed charge coverage ratios. We are currently in compliance with all financial covenants.