Debt

Debt consisted of the following as of September 29, 2017 and June 30, 2017:



	September 29, 2017			June 30, 2017
	(in millions)
Variable interest rate Term Loan A maturing 2021	$	4,073		$	4,125
Variable interest rate U.S. Term Loan B-2 maturing 2023	2,963			2,970
Variable interest rate Euro Term Loan B-2 maturing 2023⁽¹⁾	1,031			1,001
7.375% senior secured notes due 2023	1,875			1,875
10.500% senior unsecured notes due 2024	3,350			3,350
Convertible senior notes	35			35
Total debt	13,327			13,356
Issuance costs and debt discounts	(196		)	(205		)
Subtotal	13,131			13,151
Less current portion of long-term debt	(258		)	(233		)
Long-term debt	$	12,873		$	12,918


⁽¹⁾	Euro Term Loan B-2 outstanding principal amounts as of September 29, 2017 and June 30, 2017 were based upon the Euro to U.S. dollar exchange rate as of those respective dates.

The Credit Agreement requires the Company to comply with certain financial covenants, such as a leverage ratio and an interest coverage ratio. As of September 29, 2017, the Company was in compliance with all financial covenants. In addition, the documents governing substantially all of the Company’s outstanding debt, including the Credit Agreement, require the Company to comply with customary covenants that limit or restrict the Company’s and its subsidiaries’ ability to incur liens and indebtedness; make certain restricted payments, acquisitions, investments, loans and guarantees; and enter into certain transactions with affiliates, mergers and consolidations.