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Debt
 12 Months Ended
Apr. 24, 2021
Debt Disclosure [Abstract]  
Debt Debt
Our long-term debt consisted of the following:
Carrying Value
Interest RateApril 24, 2021April 25, 2020
Senior notes due fiscal 2022 (1)
3.59 %100,750 100,750 
Senior notes due fiscal 2024 (1)
3.74 %33,000 33,000 
Senior notes due fiscal 2025 (2)
3.48 %117,500 117,500 
Senior notes due fiscal 2028 (3)
3.79 %40,000 40,000 
Term loan due fiscal 2024 (4)
1.36 %300,000 300,000 
Less: Deferred debt issuance costs(2,955)(3,484)
Total debt588,295 587,766 
Less: Current maturities of long-term debt(100,750)— 
Long-term debt$487,545 $587,766 

(1)Issued in December 2011.
(2)Issued in March 2015.
(3)Issued in March 2018.
(4)Issued in December 2019, amended in February 2021. Interest rate is 1-month LIBOR plus 1.25% as of April 24, 2021.

Future principal payments due, based on stated contractual maturities for our long-term debt, were as follows as of April 24, 2021:

Fiscal Year
2022$100,750 
2023— 
2024333,000 
2025117,500 
2026— 
Thereafter40,000 
Total$591,250 

In fiscal 2017, we entered into an amended credit agreement ("Amended Credit Agreement"), consisting of a $295,075 term loan and a $750,000 revolving line of credit. In March 2019, we permanently reduced the capacity under the revolving line of credit to $500,000. Interest on borrowings was variable and was determined as a base rate plus a spread. This spread, as well as a commitment fee on the unused portion of the facility, was based on our leverage ratio, as defined in the Amended Credit Agreement. During the quarter ended October 26, 2019, we repaid the remaining $81,558 outstanding under the unsecured term loan.
In December 2019, we entered into a senior unsecured term loan facility agreement (the “Term Facility Agreement”), consisting of a $300,000 term loan. Interest on borrowings was variable and was determined as a base rate plus a spread. This spread was based on our leverage ratio, as defined in the Term Facility Agreement. The proceeds were used to repay certain existing indebtedness, pay fees and expenses incurred in connection with the Term Facility Agreement, and finance our ongoing working capital and other general corporate purposes. The Term Facility was set to mature no later than December 20, 2022. As of April 25, 2020, $300,000 was outstanding under the Term Facility at an interest rate of 1.87%.
In fiscal 2021, we entered into an amendment, restatement and consolidation of the Amended Credit Agreement and the Term Facility Agreement with various lenders, including MUFG Bank, Ltd, as administrative agent. This amended and restated credit agreement (the “Credit Agreement”), dated February 16, 2021, consists of a $700,000 revolving credit facility and a $300,000 term loan facility, and will mature no later than February 2024. We used the facilities to refinance and consolidate the Amended Credit Agreement and the Term Facility Agreement, pay the fees and expenses incurred therewith, and finance our ongoing working capital and other general corporate purposes.
As of April 24, 2021, $300,000 was outstanding under the Credit Agreement term loan at an interest rate of 1.36% and $53,000 was outstanding under the Credit Agreement revolving credit facility at an interest rate of 1.34%.
During the three months ended January 25, 2020, we repaid certain indebtedness totaling $373,750. As a result, we recorded a pre-tax non-cash charge of $8,984 during the three months ended January 25, 2020. This charge relates to the January 2014 forward interest rate swap agreement and accelerated amortization of debt issuance costs.
We expect the collection of deferred purchase price receivables, existing cash balances and credit availability under existing debt facilities, less our funds used in operations, will be sufficient to meet our working capital needs and to finance our business over the remainder of fiscal 2021.
We are subject to various financial covenants under our debt agreements including the maintenance of leverage and interest coverage ratios. In the event of our default, any outstanding obligations may become due and payable immediately. We were in compliance with the covenants under our debt agreements as of April 24, 2021.