Long Term Debt

6 Months Ended

Jun. 29, 2024

The following table summarizes the Company’s debt:


	June 29, 2024		December 30, 2023
Revolving loans	$	—	$	—
Senior Term Loan, due 2028	747,597		751,852
Finance lease & other obligations	11,759		9,097
	759,356		760,949
Unamortized discount on Senior Term Loan	(3,370)		(4,087)
Current portion of long-term debt and finance leases	(11,416)		(9,952)
Deferred financing fees	(12,473)		(15,202)
Total long-term debt, net	$	732,097	$	731,708

As of June 29, 2024, the Asset-Backed Loan ("ABL") Revolver did not have an outstanding balance, and had outstanding letters of credit of $40,890. The Company has $251,248 of available borrowings under the revolving credit facility as a source of liquidity as of June 29, 2024 based on the customary ABL borrowing base and availability provisions.

Though the Company currently does not have any Canadian obligations outstanding on the ABL Revolver, the Company entered into Amendment No. 5 to the ABL Revolver on June 27, 2024 to transition its benchmark interest rate for Canadian borrowings from the Canadian Dollar Offered Rate ("CDOR") to the Term Canadian Overnight Repo Rate Average ("CORRA"). The amendment and transition was due to the discontinuation of CDOR on June 30, 2024. The foregoing descriptions of Amendment No. 5 to the ABL Revolver do not purport to be complete and is qualified in its entirety by the terms and conditions of Amendment No. 5 to the ABL Revolver and the Amended and Restated ABL Credit Agreement. Copies of Amendment No. 5 to the ABL Revolver and the Amended and Restated ABL Credit Agreement are attached hereto as Exhibit 10.2 and Exhibit 10.3 and are incorporated herein by reference.