NOTE 8 – DEBT

下表总结了本公司的债务beplay官网ued 2018年9月30日 和 June 30, 2018 ：

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作为 2018年9月30日 ，未来的长期债务付款是 $ 250.0万美元 在财政年度 2020 ; $500.0 million 在财政年度 2022 ;和 150亿美元 经过财政年度 2023 。

高级票据：

In November 2014, the Company issued $ 250亿美元 aggregate principal amount of senior, unsecured long-term notes (collectively referred to as “Senior Notes”). The Company issued the Senior Notes as part of the leveraged recapitalization plan under which the proceeds from the Senior Notes in conjunction with the proceeds from the term loans and cash on hand were used (x) to fund a special cash dividend of $16.50 per share, aggregating to approximately 27.6亿美元 ，（y）赎回 $750.0 million 在包括相关的赎回保费，包括相关的赎回保险费，应计利息和其他费用和费用以及（Z），包括根据公司股票回购计划回购股份。beplay官网ued

The interest rate specified for each series of the Senior Notes will be subject to adjustments from time to time if Moody’s Investor Service, Inc. (“Moody’s”) or Standard & Poor’s Ratings Services (“S&P”) or, under certain circumstances, a substitute rating agency selected by us as a replacement for Moody’s or S&P, as the case may be (a “Substitute Rating Agency”), downgrades (or subsequently upgrades) its rating assigned to the respective series of Senior Notes such that the adjusted rating is below investment grade. If the adjusted rating of any series of Senior Notes from Moody’s (or, if applicable, any Substitute Rating Agency) is decreased to Ba1, Ba2, Ba3 or B1 or below, the stated interest rate on such series of Senior Notes as noted above will increase by 25 bps. 那 50 bps. 那 75 bps 或者 100个bps. 那respectively (“bps” refers to Basis Points and 1% is equal to 100个bps. ）。如果在S＆P（或如果适用的任何替代评级机构）关于这些一系列高级票据的任何一系列高级票据的评级减少到BB +，BB，BB - 或B +或以下，所列利率如上所述的一系列高级票据将增加 25 bps. 那 50 bps. 那 75 bps 或者 100个bps. ， 分别。The interest rates on any series of Senior Notes will permanently cease to be subject to any adjustment (notwithstanding any subsequent decrease in the ratings by any of Moody’s, S&P and, if applicable, any Substitute Rating Agency) if such series of Senior Notes becomes rated “Baa1” (or its equivalent) or higher by Moody’s (or, if applicable, any Substitute Rating Agency) and “BBB+” (or its equivalent) or higher by S&P (or, if applicable, any Substitute Rating Agency), or one of those ratings if rated by only one of Moody’s, S&P and, if applicable, any Substitute Rating Agency, in each case with a stable or positive outlook. In October 2014, the Company entered into a series of forward contracts to lock the 10-year treasury rate (“benchmark rate”) on a portion of the Senior Notes with a notional amount of 100亿美元 in aggregate. For additional details, refer to Note 15, “Derivative Instruments and Hedging Activities.”

高级票据的原始折扣金额为 40万美元 并正在债务生命中摊销。兴趣是应付的 半年度 on May 1 and November 1 of each year. The debt indenture (the “Indenture”) includes covenants that limit the Company’s ability to grant liens on its facilities and enter into sale and leaseback transactions, subject to certain allowances under which certain sale and leaseback transactions are not restricted.

In certain circumstances involving a change of control followed by a downgrade of the rating of a series of Senior Notes by at least two of Moody’s, S&P and Fitch Inc., unless the Company has exercised its right to redeem the Senior Notes of such series, the Company will be required to make an offer to repurchase all or, at the holder’s option, any part, of each holder’s Senior Notes of that series pursuant to the offer described below (the “Change of Control Offer”). In the Change of Control Offer, the Company will be required to offer payment in cash equal to 101％ 在回购的高级票据中回购的高级票据总额（如果有的话）回购，最高，但不包括回购日期。

根据适用日期的高级票据的交易价格，高级票据的公允价值 2018年9月30日 和 June 30, 2018 was approximately 23.1亿美元 和 23.3亿美元 ， 分别。虽然高级票据按成本记录，但长期债务的公允价值取决于不活跃的市场的报价;因此，为了公允价值计量层次结构，长期债务分类为级别2。

作为 2018年9月30日 那the Company was in compliance with all of its covenants under the Indenture associated with the Senior Notes.

Revolving Credit Facility:

2017年11月，本公司签订了信贷协议（“信beplay官网ued贷协议”）提供了一个 $750.0 million 五 -year unsecured Revolving Credit Facility (the “Revolving Credit Facility”), which replaced its prior Credit Facility. Subject to the terms of the Credit Agreement, the Revolving Credit Facility may be increased in an amount up to $250.0 百万的总体。

The Company may borrow, repay and reborrow funds under the Revolving Credit Facility until its maturity on November 30, 2022 (the “Maturity Date”), at which time such Revolving Credit Facility will terminate, and all outstanding loans under such facility, together with all accrued and unpaid interest, must be repaid. The Company may prepay outstanding borrowings under the Revolving Credit Facility at any time without a prepayment penalty.

循环信贷额度下的借款将在公司的选择中承担利息：（i）替代基本费率（“ABR”）加上差价，从而从beplay官网ued 0 bps 到 75 bps ，或（ii）伦敦银行间提供的费率（“Libor”）加上展开，范围从 100个bps. 到 175 bps. 。ABR和LIBOR下的差价均与信用评级降级或升级相结合调整。该公司还beplay官网ued义务为循环信贷设施的日常删除平衡支付年度承诺费用，从而为 10个bps. 到 25 bps. 根据公司信用评级的变化调整。beplay官网ued作为 2018年9月30日 ，该公司支付beplay官网ued年度承诺费用 12.5 bps. 论循环信贷设施的日常删除平衡。

The Revolving Credit Facility requires the Company to maintain an interest expense coverage ratio as described in the Credit Agreement, on a quarterly basis, covering the trailing four 连续财政宿舍不低于 3.50 1.00。此外，本公司必须按一季度按照信用协beplay官网ued议中所述的最大杠杆比率 3.00 到1.00那covering the trailing four 每财政季度连续财政宿舍，可以增加至 4.00 到 1.00 for a period of time in connection with a material acquisition or a series of material acquisitions.

该公司符beplay官网ued合信用协议下的所有契约 2018年9月30日 并且有 不 outstanding borrowings under the unfunded Revolving Credit Facility.