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Note 9 - Debt

6 Months Ended

Dec. 31, 2014

9) Debt

As of December 31, 2014, the Company’s debt is due as follows (in thousands):

Fiscal Year
2015	$	7
2016		13
2017		13
2018		7
2019		-
Thereafter		125,800
	$	125,840

Bank Credit Agreements

On December 19, 2014 the Company entered into an Amended and Restated Credit Agreement (“Credit Facility” or “facility”). This five-year Credit Facility expires in December 2019 and has a borrowing limit of $400 million, which can be increased by an amount of up to $100 million, in accordance with specified conditions contained in the agreement. The facility also includes a $10 million sublimit for swing line loans and a $30 million sublimit for letters of credit. The facility amends and restates a previously existing $225 million revolving credit agreement, which was scheduled to expire in January 2017. As of December 31, 2014 the Company has used $8.4 million against the letter of credit sub-facility and had the ability to borrow $265.8 million under the facility.

At December 31, 2014, the carrying value of the current borrowings under the facility approximates fair value.

- 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.

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