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LONG-TERM DEBT | 6 Months Ended
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Dec. 27, 2017
Debt Disclosure [Abstract] |
LONG-TERM DEBT | DEBT Long-term debt consists of the following (in thousands):
| December 27, 2017 |  | June 28, 2017
Revolving credit facility | $ | 436,250 |  |  | $ | 392,250 |
5.00% notes | 350,000 |  |  | 350,000 |
3.88% notes | 300,000 |  |  | 300,000 |
2.60% notes | 250,000 |  |  | 250,000 |
Capital lease obligations | 44,607 |  |  | 45,417 |
Total long-term debt | 1,380,857 |  |  | 1,337,667 |
Less unamortized debt issuance costs and discounts | (7,337 | ) |  | (8,189 | )
Total long-term debt less unamortized debt issuance costs and discounts | 1,373,520 |  |  | 1,329,478 |
Less current installments | (8,265 | ) |  | (9,649 | )
| $ | 1,365,255 |  |  | $ | 1,319,829 |
During the twenty-six week period ended December 27, 2017, net borrowings of $44.0 million were drawn on the $1 billion revolving credit facility primarily to fund share repurchases. Under the revolving credit facility, $890.0 million of the facility is due on September 12, 2021 and the remaining $110.0 million is due on March 12, 2020. The revolving credit facility bears interest of LIBOR plus an applicable margin, which is a function of our credit rating and debt to cash flow ratio, but is subject to a maximum of LIBOR plus 2.00%. Based on our current credit rating, we are paying interest at a rate of LIBOR plus 1.38% for a total of 2.95%. One month LIBOR at December 27, 2017 was approximately 1.57%. As of December 27, 2017, $563.8 million of credit is available under the revolving credit facility. Obligations under our 2.60% notes, which will mature in May 2018, have been classified as long-term, reflecting our ability to refinance these notes through our existing revolving credit facility. Our debt agreements contain various financial covenants that, among other things, require the maintenance of certain leverage and fixed charge coverage ratios. We are currently in compliance with all financial covenants.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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