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Debt
6 Months Ended
Sep. 28, 2025
Debt Disclosure [Abstract]  
Debt Debt
On April 25, 2025, we entered into a second amendment that further amended the Existing Credit Agreement (as amended, the “Credit Agreement”). The second amendment increased the revolving commitment under the Existing Credit Agreement to provide us with senior secured revolving credit facilities (the “Revolving Loan Facility”) totaling $400.0 million. The Revolving Loan Facility includes a $10.0 million letter of credit subfacility and $25.0 million swingline subfacility. U.S. Bank, JP Morgan Chase Bank, N.A., Wells Fargo Bank, N.A., and Associated Bank, N.A. were lenders under the Credit Agreement as of the date of the second amendment.
We drew approximately $150 million of the proceeds from the Revolving Loan Facility to acquire substantially all of the assets of WaterSurplus. We may use other proceeds from the Revolving Loan Facility for working capital, capital expenditures, restricted payments and other acquisitions permitted under the Credit Agreement, and other general corporate purposes.
We paid fees of approximately $1.0 million associated with this refinancing. The Revolving Loan Facility is scheduled to mature on April 25, 2030.
Borrowings under the Revolving Loan Facility bear interest at a variable rate based on term SOFR plus a margin. We have an interest rate swap in place to manage the risk associated with a portion of our variable-rate debt. The notional amount of the swap agreement is $60 million. At September 28, 2025, the effective interest rate on our borrowings was 5.1%.
Debt at September 28, 2025 and March 30, 2025 consisted of the following:
September 28,
2025
March 30,
2025
(In thousands)
Senior secured revolving loan$279,000 $149,000 
Less: unamortized debt issuance costs(860)(181)
Total debt, net of debt issuance costs278,140 148,819 
Less: current portion of long-term debt(9,812)(9,913)
Total long-term debt$268,328 $138,906