Long-term Debt (Tables)

6 Months Ended

Apr. 01, 2016

The Company’s long-term debt comprises the following as of the dates presented:



		April 1, 2016			October 2, 2015
Senior Secured Credit Facilities:
First Lien Credit Agreement:
Revolver		$	—		$	—
First Lien Term Loan		303,800			305,350
Less unamortized original issue discount		(573		)	(625		)
Less unamortized debt issuance costs^a		(6,343		)	(6,960		)
		296,884			297,765
Second Lien Credit Agreement:
Second Lien Term Loan		28,000			28,000
Less unamortized original issue discount		(518		)	(557		)
Less unamortized debt issuance costs		(1,096		)	(1,110		)
		26,386			26,333

Senior Notes		215,000			215,000
Less unamortized original issue discount		(2,424		)	(3,218		)
Less unamortized debt issuance costs		(2,271		)	(3,014		)
		210,305			208,768

Long term debt, net of discount and debt issuance costs		533,575			532,866
Less current portion		(3,100		)	(3,100		)
Long-term portion		$	530,475		$	529,766

Standby letters of credit secured by Revolver		$	6,056		$	5,998

^a	Amounts comprised debt issuance costs associated with both Revolver and First Lien Term Loan.

Schedule of Redemption Option

At any time, or from time to time, on or after February 15, 2016, CPII, at its option, may redeem the Senior Notes, in whole or in part, at the redemption prices (expressed as percentages of principal amount) set forth below, together with accrued and unpaid interest thereon, if any, to the redemption date, if redeemed during the 12-month period beginning February 15 of the years indicated:



Year		Optional Redemption Price
2016		104%
2017 and thereafter		101%

Schedule of Maturities of Long-term Debt

As of April 1, 2016, maturities on long-term debt were as follows:



Fiscal Year	First Lien Term Loan		Second Lien Term Loan		8.75% Senior Notes		Total
2016 (remaining six months)	$	1,550	$	—	$	—	$	1,550
2017	3,100		—		—		3,100
2018	299,150		28,000		215,000		542,150
2019	—		—		—		—
2020	—		—		—		—
Thereafter	—		—		—		—
	$	303,800	$	28,000	$	215,000	$	546,800

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

+ References

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+ Details

CPI International Holding Corp. 10-Q