Debt

Senior notes. Unsecured senior debt, net of unamortized discounts and debt issuance costs, consists of the following:



($000)	May 2, 2015		January 31, 2015		May 3, 2014
6.38% Series A Senior Notes due 2018	$	84,881	$	84,873	$	84,848
6.53% Series B Senior Notes due 2021	64,866		64,861		64,846
3.375% Senior Notes due 2024	245,930		245,828		—
Total	$	395,677	$	395,562	$	149,694

In September 2014, the Company issued unsecured 3.375% Senior Notes due September 2024 (the “2024 Notes”) with an aggregate principal amount of $250 million. Interest on the 2024 Notes is payable semi-annually.

As of May 2, 2015, the Company also had outstanding two other series of unsecured senior notes in the aggregate principal amount of $150 million, held by various institutional investors. The Series A notes totaling $85 million are due in December 2018 and bear interest at a rate of 6.38%. The Series B notes totaling $65 million are due in December 2021 and bear interest at a rate of 6.53%. Borrowings under these senior notes are subject to certain financial covenants, including interest coverage and other financial ratios. As of May 2, 2015, the Company was in compliance with these covenants.

As of May 2, 2015, January 31, 2015, and May 3, 2014, total unamortized discount and debt issuance costs were $4.3 million, $4.4 million, and $0.3 million, respectively, and were classified as a reduction of Long-term debt.

The 2024 Notes, Series A, and Series B senior notes are all subject to prepayment penalties for early payment of principal.

The aggregate fair value of the long-term debt was approximately $430 million, $442 million, and $182 million as of May 2, 2015, January 31, 2015, and May 3, 2014, respectively. The fair values are estimated by obtaining comparable market quotes which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.

Interest expense and income for the three month periods ended May 2, 2015 and May 3, 2014 consists of the following:




	Three Months Ended
($000)	May 2, 2015			May 3, 2014
Interest expense on long-term debt	$	4,642		$	2,430
Other interest expense	341			341
Capitalized interest	(2,810		)	(2,771		)
Interest income	(170		)	(104		)
Interest expense (income), net	$	2,003		$	(104	)

Revolving credit facility. The Company's $600 million unsecured revolving credit facility expires in June 2017 and contains a $300 million sublimit for issuance of standby letters of credit. Interest on this facility is based on LIBOR plus an applicable margin (currently 100 basis points) and is payable quarterly and upon maturity. As of May 2, 2015 the Company had no borrowings or standby letters of credit outstanding under this facility and the $600 million credit facility remains in place and available.

The revolving credit facility is subject to certain financial covenants, including interest coverage and other financial ratios. In addition, the interest rates under the revolving credit facility may vary depending on actual interest coverage ratios achieved. As of May 2, 2015, the Company was in compliance with these covenants.