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Subsequent Events
12 Months Ended
Sep. 28, 2019
Subsequent Events [Abstract]  
Subsequent Events

17. Subsequent Events



In November, 2019 The Company closed a $155 million ten-year amortizing real estate loan (the “Loan”) and issued notice to redeem a like principal amount of 5.75% senior notes due in 2023 (the “Notes”).  The Loan will be funded and the Notes will be redeemed thirty days after the redemption notice in December, 2019.  The Notes will be redeemed at 101.917% of par value, and the Company will recognize debt extinguishment costs of approximately $3.0 million during the quarter ending December 28, 2019.  The Loan matures January 31, 2030 and has monthly principal payments of $0.65 million plus floating rate interest based on LIBOR.  Additionally, effective October 1, 2019, the Company entered into a notional amount $155 million interest rate swap contract to convert the variable rate on the Loan to a fixed interest rate of 2.95%.  The notional amount of the swap declines each month by $0.65 million, consistent with the required principal payments of the loan.