Sprouts Farmers Market 2013 Annual Report Download - page 115

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Table of Contents
13. Long-Term Debt
A summary of long-term debt is as follows:
Current portion of long-term debt is presented net of issue discount of $1.2 million and $2.3 million at December 29, 2013 and
December 30, 2012, respectively. The noncurrent portion of long-term debt is presented net of issue discount of $5.8 million and
$11.3 million at December 29, 2013 and December 30, 2012, respectively.
Debt Maturities
Aggregate annual maturities on long-term debt as of December 29, 2013 for each of the years are as follows:
Senior Secured Credit Facilities
April 2013 Refinancing
On April 23, 2013, the Company’s subsidiary, Sprouts Farmers Markets Holdings, LLC (“Intermediate Holdings”),
as borrower,
refinanced (the “April 2013 Refinancing”) the Former Revolving
110
As Of
Facility
Maturity
Interest Rate
December 29,
2013
December 30,
2012
Senior Secured
$700.0 million Term Loan, net of original
issue discount
April 2020
Variable
$
311,240
$
—
$60.0 million Revolving Credit Facility
April 2018
Variable
—
—
$410.0 million Term Loan, net of original
issue discount
April 2018
Variable
—
391,544
$50.0 million Revolving Credit Facility
April 2016
Variable
—
—
Senior Subordinated Notes
$35.0 million Senior Subordinated
Promissory Notes
July 2019
10%-
14%
—
35,000
Total Debt
311,240
426,544
Less current portion
(5,822
)
(1,788
)
Long
-
term debt, net of current portion
$
305,418
$
424,756
2014
$
7,000
2015
8,750
2016
7,000
2017
7,000
2018
5,250
Thereafter
283,250
Gross principal
318,250
Less: discount
(7,010
)
Total debt at December 29, 2013
$
311,240