Long-Term Debt

Long-term debt consisted of the following:



	Fiscal Year Ended
	Sept. 30, 2012		Sept. 29, 2013
	(In thousands)
Secured Term Loan due 2014	$	104,940	$	93,521
Unsecured 7.75% Senior Notes due 2015	285,000		285,000
Unsecured 7.375% Senior Notes due 2018	255,000		255,000
	644,940		633,521
Less current portion of long-term debt	11,419		24,810
Long-term debt, less current portion	$	633,521	$	608,711

Scheduled maturities under the Company’s long-term debt as of September 29, 2013 are as follows:



	(In thousands)
2014	$	24,810
2015	353,711
2016	—
2017	—
2018	—
Thereafter	255,000
Total long-term debt	$	633,521

Interest on the Term Loan is payable quarterly in arrears on the last day of March, June, September and December. Mandatory quarterly principal payments which total to annual payments of $14.5 million and $3.6 million are due in fiscal 2014 and fiscal 2015, respectively. In addition, the Term Loan requires an additional payment of $10.3 million in fiscal 2014 as an excess cash payment as calculated under the Term Loan. Remaining principal amounts due under the Term Loan at its maturity at November 2014.

Interest on the 7.75% Senior Notes is payable semi-annually in arrears on April 15 and October 15. Principal on the 7.75% Senior Notes is due in April 2015.

Interest on the 7.375% Senior Notes is payable semi-annually in arrears on May 15 and November 15. Principal on the 7.375% Senior Notes is due in November 2018.

Interest capitalized in fiscal 2011 was $0.3 million and interest capitalized in both fiscal 2012 and fiscal 2013 was $0.4 million. Interest expense incurred, before the effect of capitalized interest, amounted to $57.6 million in fiscal year 2011, $48.3 million in fiscal year 2012 and $46.7 million in fiscal year 2013.

The Company is subject to certain financial covenants associated with its 7.375% Senior Notes and its 7.75% Senior Notes. As of September 29, 2013, the Company was in compliance with all such covenants.

The 7.375% Senior Notes and the 7.75% Senior Notes are guaranteed by the Company’s subsidiaries Markets and Development, and the Company’s indirect subsidiaries Super Rx and Dairies (each a “subsidiary guarantor”, and collectively, the “subsidiary guarantors”). Condensed consolidating financial information with respect to the subsidiary guarantors is not provided because the Company has no independent assets or operations, the subsidiary guarantees are full and unconditional and joint and several and there are no subsidiaries of the Company other than the subsidiary guarantors.