Debt

Long-term debt consisted of the following:



	As of
	March 30, 2013		September 29, 2012
	(In thousands)
Senior Floating Rate Notes due 2014 ("2014 Notes")	$	—	$	257,410
Secured Debt due 2015	40,000		40,000
Senior Notes due 2019	500,000		500,000
Fair value adjustment (1)	34,046		39,954
Total	$	574,046	$	837,364

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

During the second quarter of 2013, the Company redeemed all $257.4 million of its outstanding 2014 Notes at par plus accrued interest and incurred a loss of $1.4 million, consisting primarily of the write-off of unamortized debt issuance costs.

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 March 30, 2013.

Short-term debt

The Company has a $300 million secured asset-backed revolving credit facility. Borrowings under this facility bear interest, at the Company's option, at a rate equal to LIBOR or a base rate equal to Bank of America, N.A.'s announced prime rate, in each case plus a spread. The facility expires on March 16, 2017. As of March 30, 2013, $100 million of borrowings and $23.3 million of letters of credit were outstanding.

During the second quarter of 2013, one of the Company's subsidiaries in China entered into a $100 million unsecured working capital loan facility to replace a $50 million facility. As of March 30, 2013, the Company had a total of $184 million of short-term borrowing facilities under its foreign subsidiaries, 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 the second quarter of 2015.