LONG-TERM DEBT

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



	December 25, 2013			June 26, 2013
3.88% notes	$	299,722		$	299,707
2.60% notes	249,847			249,829
Term loan	200,000			212,500
Revolving credit facility	40,000			0
Capital lease obligations	44,383			45,681
	833,952			807,717
Less current installments	(27,737		)	(27,596		)
	$	806,215		$	780,121

During fiscal 2014, $60 million was drawn from the revolver in the first quarter and an additional $20 million was drawn in the second quarter primarily to fund share repurchases. We repaid $20 million in the first quarter and an additional $20 million in the second quarter. As of December 25, 2013, we had $210 million of credit available under the revolver.

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 December 25, 2013 was approximately 0.17%. 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.