Debt

The following table summarizes components of our debt:



(In millions, except percentages)	December 28, 2018			March 30, 2018			Effective Interest Rate
Senior Term Loan A-2 due August 1, 2019	$	600		$	600		LIBOR plus ⁽¹⁾
4.2% Senior Notes due September 15, 2020	750			750			4.25	%
2.5% Convertible Senior Notes due April 1, 2021	500			500			3.76	%
Senior Term Loan A-5 due August 1, 2021	500			500			LIBOR plus ⁽¹⁾
2.0% Convertible Senior Notes due August 15, 2021	1,250			1,250			2.66	%
3.95% Senior Notes due June 15, 2022	400			400			4.05	%
5.0% Senior Notes due April 15, 2025	1,100			1,100			5.23	%
Total principal amount	5,100			5,100
Less: Unamortized discount and issuance costs	(55		)	(74		)
Total debt	5,045			5,026
Less: current portion	(598		)	—
Total long-term debt	$	4,447		$	5,026


(1)	The senior term facilities bear interest at a rate equal to the London Interbank Offered Rate (“LIBOR”) plus a margin based on the current debt rating of our non-credit-enhanced, senior unsecured long-term debt and the underlying loan agreements. The interest rates for the outstanding senior term loans are as follows:



	December 28, 2018		March 30, 2018
Senior Term Loan A-2 due August 1, 2019	4.06	%	3.31	%
Senior Term Loan A-5 due August 1, 2021	4.26	%	3.54	%

As of December 28, 2018, the future contractual maturities of debt by fiscal year are as follows:



(In millions)	December 28, 2018
2020	$	600
2021	1,250
2022	1,750
2023	400
Thereafter	1,100
Total future maturities of debt	$	5,100

Based on the closing price of our common stock of $18.56 on December 28, 2018, the if-converted value of our 2.5% Convertible Senior Notes exceeded the principal amount by approximately $53 million and the if-converted value of our 2.0% Convertible Senior Notes was below the principal amount.

The following table sets forth total interest expense recognized related to our 2.5% and 2.0% Convertible Senior Notes:



	Three Months Ended				Nine Months Ended
(In millions)	December 28, 2018		December 29, 2017		December 28, 2018		December 29, 2017
Contractual interest expense	$	9	$	9	$	28	$	28
Amortization of debt discount and issuance costs	$	4	$	4	$	12	$	12

Revolving credit facility

We have an unsecured revolving credit facility to borrow up to $1.0 billion through May 10, 2021. For our current credit rating, borrowings under the revolving credit facility are subject to the same interest rate as our Senior Term Loan A-2. We are obligated to pay commitment fees on the unused commitment at a rate based on our debt ratings. As of December 28, 2018 and March 30, 2018, there were no borrowings outstanding under this revolving credit facility.

Covenant compliance

The Senior Term Loan agreements A-2, A-5 and our revolving credit facility contain customary representations and warranties, affirmative and negative covenants, including compliance with specified financial ratios, non-financial covenants for financial reporting, and restrictions on subsidiary indebtedness, liens, stock repurchases and dividends (with exceptions permitting our regular quarterly dividend). Our Convertible Senior Notes agreements and the agreement for our 5.0% Senior Note due April 15, 2025 also require us to file periodic reports with the U.S. Securities and Exchange Commission (the “SEC”) by specified deadlines. As of December 28, 2018, we were in compliance with all debt covenants.