Debt

Second Amended and Restated Credit Facility

In August 2013, the Company entered into a credit facility with Sun Trust Bank and other named lenders which has been periodically amended and restated; the last restatement occurred on May 11, 2016 and was further amended on August 11, 2016, June 12, 2017 and November 30, 2017 (as most recently amended and restated and as further amended, the “Second Amended and Restated Credit Facility”). The Second Amended and Restated Credit Facility, which matures on May 11, 2021, provides a revolving line of credit and a maturing secured term loan with a refinanced principal balance of $75,000. The term loan is subject to quarterly amortization payments.

The Second Amended and Restated Credit Facility provides for interest at either a rate based on the London Interbank Offered Rate, or LIBOR, plus a margin ranging from 1.50% to 2.50%, or based on the prime rate offered by SunTrust Bank plus a margin ranging from 0.50% to 1.50%. At June 29, 2018, the one-month LIBOR and prime rates were 2.09% and 5.00%, respectively. At June 29, 2018, our weighted average interest rate on outstanding borrowing was 3.96%. The Second Amended and Restated Credit Facility is secured by substantially all of the Company’s assets, restricts the Company's ability to make certain payments and engage in certain transactions, and also requires that the Company satisfy customary financial ratios. The Company was in compliance with the covenants as of June 29, 2018.

Additionally, the existing credit facility permits up to $15,000 of the aggregate revolving commitment to be used by the Company for issuance of letters of credit. As of June 29, 2018, the Company utilized $5,000 in the form of a standby letter of credit in support of subsidiary operations. The letter of credit expires in November 2018.

The following table summarizes the line of credit under the Second Amended and Restated Credit Facility:



	June 29,		December 29,
	2018		2017
Amount outstanding	$	5,000	$	35,000
Standby letter of credit	$	5,000	$	5,000
Available borrowing capacity	$	90,000	$	60,000
Maximum borrowing capacity	$	100,000	$	100,000
Maturity date	May 11, 2021

As of June 29, 2018, future principal payments for long-term debt, including the current portion, are summarized as follows:



For fiscal year:
2018 (remaining six months)	$	2,813
2019	5,625
2020	7,031
2021	45,625
Total term debt	61,094
Debt issuance cost	(319		)
Long-term debt, net of issuance cost	60,775
Less: current portion	(5,512		)
Long-term debt less current portion	$	55,263

Other Indebtedness

The Company had $110 and $585 outstanding under a vendor associated line of credit as of June 29, 2018 and December 29, 2017, respectively.