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Subsequent Event
6 Months Ended
Apr. 03, 2026
Subsequent Events [Abstract]  
Subsequent Event Subsequent Events
First Amendment to the Credit Agreement
On April 24, 2026, we entered into the first amendment to the Credit Facility. The amendment established a new $1,400 million senior secured term loan A facility (“Term Loan A”) due April 2031, amended the existing Term Loan, including a reduction in outstanding principal and revised terms, into a new $1,591 million senior secured term loan B facility (“Term Loan B”) due September 2031 and increased the Revolver by $150 million.
Both Term Loan A and Term Loan B require quarterly principal amortization payments. The Term Loan A interest rate per annum is, at our option, equal to either the ABR plus an interest rate margin of 0.25% to 1.00% or the Term SOFR plus an interest rate margin of 1.25% to 2.00% based on our first lien leverage ratio. The Term Loan B interest rate per annum is, at our option, equal to either the ABR plus a 0.75% interest rate margin or the Term SOFR plus a 1.75% interest rate margin.
The Revolver interest rate per annum is, at our option, equal to either the ABR or Canadian Prime Rate plus an interest rate margin of 0.25% to 1.00% or the Term SOFR, Daily Simple SOFR, EURIBOR, Daily Simple Sterling Overnight Index Average (“SONIA”) or Term Canadian Overnight Report Rate Average (“CORRA”) plus an interest rate margin of 1.25% to 2.00% based on our first lien leverage ratio.