Debt

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



($000)	July 30, 2016		January 30, 2016		August 1, 2015
6.38% Series A Senior Notes due 2018	$	84,923	$	84,906	$	84,889
6.53% Series B Senior Notes due 2021	64,892		64,882		64,872
3.375% Senior Notes due 2024	246,444		246,237		246,032
Total	$	396,259	$	396,025	$	395,793

As of July 30, 2016, the Company had outstanding 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 July 30, 2016, 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 July 30, 2016, the Company was in compliance with these covenants.

As of July 30, 2016, January 30, 2016, and August 1, 2015, total unamortized discount and debt issuance costs were $3.7 million, $4.0 million, and $4.2 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 three outstanding senior note issuances was approximately $442 million, $423 million, and $425 million as of July 30, 2016, January 30, 2016, and August 1, 2015, respectively. The fair value is estimated by obtaining comparable market quotes which are considered to be Level 1 inputs under the fair value measurements and disclosures guidance.

Interest expense for the three and six month periods ended July 30, 2016 and August 1, 2015 consisted of the following:



	Three Months Ended						Six Months Ended
($000)	July 30, 2016			August 1, 2015			July 30, 2016			August 1, 2015
Interest expense on long-term debt	$	4,643		$	4,642		$	9,286		$	9,284
Other interest expense	230			303			553			644
Capitalized interest	(5		)	(3,193		)	(9		)	(6,002		)
Interest income	(655		)	(100		)	(1,253		)	(271		)
Interest expense, net	$	4,213		$	1,652		$	8,577		$	3,655

Revolving credit facility. In April 2016, the Company entered into a new $600 million unsecured revolving credit facility. This credit facility, which replaced the Company's previous $600 million unsecured revolving credit facility, expires in April 2021 and contains a $300 million sublimit for issuance of standby letters of credit (subject to increase in proportion to any increase in the size of the credit facility). The facility also contains an option allowing the Company to increase the size of its credit facility by up to an additional $200 million, with the agreement of the lenders. Interest on any borrowings under this facility is based on LIBOR plus an applicable margin (currently 100 basis points) and is payable quarterly and upon maturity. The revolving credit facility may be extended, at the Company’s option, for up to two additional one year periods, subject to customary conditions. As of July 30, 2016, 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 a financial leverage ratio covenant. As of July 30, 2016, the Company was in compliance with this covenant.