Indebtedness and Interest Expense:

Our long-term debt consisted of the following for the periods presented:



	Successor
	March 29, 2015			December 28, 2014
	(in thousands)
Term loan facility	$	754,300		$	756,200
Revolving credit facility	—			—
Senior notes	255,000			255,000
Note payable	102			113
Total debt outstanding	1,009,402			1,011,313
Less:
Unamortized original issue discount	(3,192		)	(3,327		)
Current portion	(9,545		)	(9,545		)
Bank indebtedness and other long-term debt, less current portion	$	996,665		$	998,441

We were in compliance with the debt covenants in effect as of March 29, 2015 for both the Secured Credit Facilities and the senior notes. For further discussion regarding the debt covenants, see Secured Credit Facilities and Senior Unsecured Debt sections below.

Secured Credit Facilities

As of March 29, 2015, we had $754.3 million (excluding the original issue discount) outstanding under the Term loan facility, no borrowings outstanding under the revolving credit facility and $10.9 million of letters of credit issued but undrawn. The Secured Facilities require scheduled quarterly payments on the term loan equal to 0.25% of the original principal amount of the Term loan from July 2014 to December 2020, with the remaining balance paid at maturity, February 14, 2021.

Borrowings under the Secured Credit Facilities bear interest at a rate equal to, at our option, either (a) a London Interbank Offered Rate (“LIBOR”) determined by reference to the costs of funds for Eurodollar deposits for the interest period relevant to such borrowings, adjusted for certain additional costs, subject to a 1.00% floor in the case of term loans or (b) a base rate determined by reference to the highest of (i) the federal funds effective rate plus 0.50%; (ii) the prime rate of Deutsche Bank AG New York Branch; and (iii) the one-month adjusted LIBOR plus 1.00%; in each case plus an applicable margin. The applicable margin for borrowings is 3.00% with respect to LIBOR borrowings and 2.00% with respect to base rate borrowings under the term loan facility and base rate borrowings and swingline borrowings under the revolving credit facility. During the three months ended March 29, 2015, the federal funds rate ranged from 0.06% to 0.13%, the prime rate was 3.25% and the one-month LIBOR ranged from 0.17% to 0.18%.

The weighted average effective interest rate incurred on our borrowings under our Secured Credit Facilities was 4.6% for the three months ended March 29, 2015 and 4.7% for the 44 day period ended March 30, 2014, which includes amortization of debt issuance costs related to our Secured Credit Facilities, amortization of our term loan facility original issue discount and commitment and other fees related to our Secured Credit Facilities.

As of March 29, 2015, the borrowings under the revolving credit facility were less than 30% of the outstanding commitments; therefore, the springing financial maintenance covenant under our revolving credit facility was not in effect.

Senior Unsecured Debt

Our $255.0 million aggregate principal amount borrowings of 8.000% Senior Notes due 2022 (the “senior notes”) bear interest at a rate of 8.000% per year and mature on February 15, 2022.

Our obligations under the senior notes are fully and unconditionally guaranteed, jointly and severally, by our present and future direct and indirect wholly-owned material domestic subsidiaries that guarantee our Secured Credit Facilities.

The indenture contains restrictive covenants that limit our ability to, among other things: incur additional debt or issue certain preferred shares; create liens on certain assets; make certain loans or investments (including acquisitions); pay dividends on or make distributions in respect of our capital stock or make other restricted payments; consolidate, merge, sell or otherwise dispose of all or substantially all of our assets; sell assets; enter into certain transactions with our affiliates; and restrict

dividends from our subsidiaries.

The weighted average effective interest rate incurred on borrowings under our senior notes was 8.3% for the three months ended March 29, 2015 and 8.4% for the 44 day period ended March 30, 2014, which included amortization of debt issuance costs and other fees related to our senior notes.

Interest Expense

Interest expense consisted of the following for the periods presented:



	Successor				Predecessor
	Three Months Ended		For the 44 Day Period Ended		For the 47 Day Period Ended
	March 29, 2015		March 30, 2014		February 14, 2014
	(in thousands)
Term loan facility⁽¹⁾	$	7,907	4,181		$	—
Senior notes	5,157		2,283		—
Bridge Loan facility ⁽²⁾	—		4,943		—
Predecessor Facility	—		—		745
Capital lease obligations	455		154		275
Sale leaseback obligations	2,783		—		—
Amortization of debt issuance costs	1,001		473		58
Other	196		9		73
	$	17,499	$	12,043	$	1,151

__________________

(1) Includes amortization of original issue discount.

(2) The 44 day period ended March 30, 2014 includes debt issuance costs of $4.7 million related to the issuance of the Bridge Loan and $0.2 million of

interest.

The weighted average effective interest rate incurred on our borrowings under our Secured Credit Facilities and senior notes was 5.5% for the three months ended March 29, 2015, and 9.3% for the 44 day period ended March 30, 2014. Excluding the impact of $4.9 million of issuance costs and interest relating to the bridge loan facility, our weighted average effective rate would have been 5.4% for the 44 day period ended March 30, 2014. The weighted average effective interest rate incurred on our borrowings under our Predecessor Facility for the 47 day period ended February 14, 2014 was 1.6%.