Debt

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



($000)	October 28, 2017		January 28, 2017		October 29, 2016
6.38% Series A Senior Notes due 2018	$	84,964	$	84,939	$	84,931
6.53% Series B Senior Notes due 2021	64,917		64,902		64,897
3.375% Senior Notes due 2024	246,967		246,652		246,548
Total	$	396,848	$	396,493	$	396,376

As of October 28, 2017, 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 October 28, 2017, 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 6.38%. The Series B notes totaling $65 million are due in December 2021, and bear interest at 6.53%. Borrowings under these senior notes are subject to certain financial covenants, including interest coverage and other financial ratios. As of October 28, 2017, the Company was in compliance with these covenants.

As of October 28, 2017, January 28, 2017, and October 29, 2016, total unamortized discount and debt issuance costs were $3.2 million, $3.5 million, and $3.6 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 $415 million, $419 million, and $433 million as of October 28, 2017, January 28, 2017, and October 29, 2016, 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.

The table below shows the components of interest expense and income for the three and nine month periods ended October 28, 2017 and October 29, 2016:



	Three Months Ended						Nine Months Ended
($000)	October 28, 2017			October 29, 2016			October 28, 2017			October 29, 2016
Interest expense on long-term debt	$	4,645		$	4,643		$	13,933		$	13,929
Other interest expense	233			235			735			788
Capitalized interest	(205		)	(7		)	(387		)	(16		)
Interest income	(2,893		)	(715		)	(6,991		)	(1,968		)
Interest expense, net	$	1,780		$	4,156		$	7,290		$	12,733

Revolving credit facility. The Company’s $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 an additional one year period, subject to customary conditions. As of October 28, 2017, 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 October 28, 2017, the Company was in compliance with this covenant.