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BANK BORROWINGS AND LONG-TERM DEBT
 6 Months Ended
Sep. 26, 2025
Debt Disclosure [Abstract]  
BANK BORROWINGS AND LONG-TERM DEBT BANK BORROWINGS AND LONG-TERM DEBT
Bank borrowings and long-term debt as of September 26, 2025 and March 31, 2025 are as follows:
 Maturity DateAs of September 26, 2025As of March 31, 2025
(In millions)
4.750% Notes (1)
June 2025$— $531 
3.750% Notes (1)
February 2026676 678 
6.000% Notes (1)
January 2028398 398 
4.875% Notes (1)
June 2029655 655 
4.875% Notes (1)
May 2030673 676 
5.250% Notes (1)
January 2032499 499 
Delayed Draw Term Loan (2)December 2027500 — 
3.600% HUF Bonds (3)
December 2031300 269 
Debt issuance costs(12)(14)
3,689 3,692 
Current portion, net of debt issuance costs(676)(1,209)
Non-current portion$3,013 $2,483 
(1)The notes are carried at the principal amount of each note less any unamortized discount and unamortized debt issuance costs and inclusive of any unamortized premium. The notes are the Company’s senior unsecured obligations and rank equally with all other existing and future senior unsecured debt obligations.
(2)In March 2025, the Company entered into a $500 million Delayed Draw Term Loan agreement and drew down the funds in June 2025 at the Secured Overnight Financing Rate ("SOFR") plus 100 basis points.
(3)The bonds mature in December 2031 with annual payments equal to 10% of the original principal amount thereof on each of the seventh, eighth, and ninth anniversaries of the bonds, with the remaining 70% due upon maturity.
The weighted-average interest rate for the Company's long-term debt was 4.6% as of September 26, 2025 and March 31, 2025, respectively.
Scheduled repayments of the Company's bank borrowings and long-term debt as of September 26, 2025 are as follows:
Fiscal Year Ending March 31,Amount
(In millions)
2026 (1)$676 
2027— 
2028898 
202930 
2030685 
Thereafter1,412 
Total$3,701 
(1)Represents estimated repayments for the remaining fiscal six-month period ending March 31, 2026.
The 2030 Credit Facility
In July 2025, the Company entered into a new $2.75 billion credit facility (“2030 Credit Facility”) which matures in July 2030 and consists of a $2.75 billion revolving credit facility with a sub-limit of $400 million available for swing line loans and a sub-limit of $200 million available for the issuance of letters of credit. The 2030 Credit Facility replaced the previous $2.5 billion credit facility, which was due to mature in July 2027. Borrowings under the 2030 Credit Facility bear interest at the Company’s option at various market based rates, adjusted for the Company’s credit rating, or at the SOFR or similar non-reporting currency benchmarks based on the underlying borrowing currency, adjusted for the Company’s credit rating. The Company is required to pay a quarterly commitment fee on the unutilized portion of the 2030 Credit Facility ranging from 0.100% to 0.275% per annum, based on the Company’s credit ratings. The Company is also required to pay letter of credit usage fees ranging from 1.00% to 1.750% per annum, based on the Company’s credit ratings, on the daily average amount of outstanding letters of credit and a fronting fee of 0.125% per annum on the undrawn and unexpired amount of each letter of credit.
Term Loan due December 2027
In March 2025, the Company entered into a $500 million delayed draw term loan agreement. Borrowings under the delayed draw term loan may be used for working capital, capital expenditures, refinancing of current debt, and other general purposes. All borrowings on the delayed draw term loan will come due on December 31, 2027. Interest is based on a Term SOFR-based formula plus a margin of 100 basis points. The Company had $500 million in borrowings outstanding under the loan agreement as of September 26, 2025.