Debt

Long-term debt consisted of the following:



	As of
	December 29, 2012		September 29, 2012
	(In thousands)
Senior Floating Rate Notes due 2014 ("2014 Notes")	$	257,410	$	257,410
Secured Debt due 2015	40,000		40,000
Senior Notes due 2019	500,000		500,000
Fair value adjustment (1)	37,519		39,954
Total	$	834,929	$	837,364
Less: current portion ("2014 Notes")	100,000		—
Total long-term debt	$	734,929	$	837,364

(1) Represents fair value hedge accounting balance related to interest rate swaps. See Note 4 for discussion.

Other than the Company's secured debt due in 2015, the Company's debt agreements do not contain financial covenants currently applicable to the Company, but do include a number of restrictive covenants, including restrictions on incurring additional debt, making investments and other restricted payments, selling assets, paying dividends and redeeming or repurchasing capital stock and debt, subject to certain exceptions. The Company's secured debt due in 2015 requires the Company to maintain a minimum fixed charge coverage ratio during its term. The Company was in compliance with these covenants as of December 29, 2012. Additionally, as of December 29, 2012, there were no loans and $23.3 million of letters of credit outstanding under the Company's revolving credit agreement.

During the second quarter of 2013, the Company redeemed $100 million of its 2014 Notes (January 9, 2013) at par plus accrued interest and called for redemption (January 28, 2013) the remaining $157.4 million of 2014 Notes outstanding at par plus accrued interest. In connection with these redemptions, the Company expects to incur a loss of $1.5 million, consisting of the write-off of all remaining unamortized debt issuance costs.

Short-term debt

As of December 29, 2012, certain foreign subsidiaries of the Company had a total of $134 million of short-term borrowing facilities, under which $59.9 million was outstanding. Borrowings under these facilities bear interest at a rate equal to LIBOR plus a spread. These facilities expire at various dates through first quarter of 2014.