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Refinancing
6 Months Ended
Mar. 30, 2014
Debt Disclosure [Abstract]  
Refinancing
Refinancing
On May 12, 2014, the Company refinanced and signed a new Credit Agreement with Bank of America, N.A., as Administrative Agent, which consist of a five year Revolving Credit Facility in the amount of $150.0 million, a five year Term Loan A in the amount of $325.0 million and a seven year Term Loan B in the amount of $250.0 million (collectively the “Facility”). Loans under the new Revolving Credit Facility will bear an interest rate at the Eurodollar Rate plus 2.50%. The new Term Loan A will bear an interest rate at the Eurodollar Rate plus 2.50%. The Term Loan B will bear an interest rate at the Eurodollar Rate plus 3.75%, with a minimum Eurodollar Rate floor of 1.0%. Lending parties to the Facility consists of Bank of America, N.A., Merrill Lynch, Pierce, Fenner & Smith Incorporated and a consortium of other banks and institutional lenders. The Facility is secured by substantially all of the Company’s personal property excluding certain intangible assets consisting of trademarks and shares of the Company's capital stock. The Facility is guaranteed by the Company, its direct subsidiary Development and its indirect subsidiary Super RX. Covenants under the Facility will be similar to covenants under the Company’s old Revolving Credit Facility and Term Loan.

The proceeds from the Facility and cash on hand will be used to pay-off the remaining outstanding $72.3 million of the Company’s existing Term Loan, the $285.0 million outstanding on the Company’s 7.75% Senior Notes due April 2015, the $255.0 million outstanding on the Company’s 7.375% Senior Notes due November 2018 and to pay fees and expenses from the transaction.

On May 12, 2014, the Company issued irrevocable call notices to redeem its $285.0 million 7.75% Senior Notes and its $255.0 million 7.375% Senior Notes. The redemption on these notes will occur on June 11, 2014.