v3.25.4
DEBT
 3 Months Ended
Dec. 28, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
Debt with external lenders consist of the following.
December 28, 2025September 30, 2025
(in millions)AmountRateAmountRate
3.375% Exchangeable Notes, due June 1, 2029
$350.0 3.4 %$350.0 3.4 %
5.00% Notes, due October 1, 2029
4.9 5.0 %4.9 5.0 %
5.50% Notes, due July 15, 2030
13.2 5.5 %13.2 5.5 %
3.875% Notes, due March 15, 2031
128.0 3.9 %128.0 3.9 %
Obligations under finance leases82.8 5.6 %85.3 5.6 %
Total debt578.9 581.4 
Debt issuance costs(12.7)(13.5)
Less current portion(11.9)(11.7)
Long-term debt, net of current portion$554.3 $556.2 
Credit Agreement
As of December 28, 2025, there are no borrowings outstanding under the Company’s $500 million revolving credit facility (the “Revolver Facility”) under the Second Amended and Restated Credit Agreement, dated as of October 19, 2023, by and among the Company, SB/RH Holdings, LLC, Royal Bank of Canada, as the administrative agent, and the lenders party thereto, with a borrowing availability under the Revolver Facility of $492.2 million, net outstanding letters of credit of $7.8 million.
3.375% Exchangeable Notes due June 1, 2029 ("Exchangeable Notes")
Subsequent to the issuance of the Exchangeable Notes, the Company increased its quarterly dividend rate to $0.47 per share. As such, the exchange rate for the Exchangeable Notes due June 1, 2029 has been adjusted to 8.2375 shares of common stock per $1,000 principal amount of notes (which is equal to an initial conversion price of approximately $121.40 per share of the Company's common stock), subject to further adjustment as set forth in the indenture. Concurrently, the strike price with the associated Capped Calls has been updated to approximately $121.40 per share, subject to certain additional adjustments, corresponding to the change in exchange price of the Exchangeable Notes, and the cap price has been updated to approximately $158.75 per share, subject to certain additional adjustments.