
	April 30, 2025		July 31, 2024
Term loan	$	500,938	$	594,361

Senior unsecured notes	500,000		500,000
Unsecured notes	5,687		27,070
Other debt	22,598		29,848
Total long-term debt	1,029,223		1,151,279
Debt issuance costs, net of amortization	(13,126)		(17,364)
Total long-term debt, net of debt issuance costs	1,016,097		1,133,915
Less: Current portion of long-term debt	(5,444)		(32,650)
Total long-term debt, net, less current portion	$	1,010,653	$	1,101,265

As discussed in Note 13 to the Company’s Consolidated Financial Statements included in the Fiscal 2024 Form 10-K, the Company is a party to a term loan (“term loan”) agreement, which consists of both a U.S. dollar-denominated term loan tranche (“USD term loan”) and a Euro-denominated term loan tranche (“Euro term loan”), and a $1,000,000 asset-based credit facility (“ABL”).

As of April 30, 2025, the outstanding USD term loan balance of $155,000 was subject to a Secured Overnight Financing Rate (“SOFR”)-based rate totaling 6.572%. The total interest rate on the April 30, 2025 outstanding Euro term loan tranche balance of $345,938 was 4.901%. The Senior Unsecured Notes were issued on October 14, 2021 in an aggregate principal amount of $500,000 and bear fixed interest at a rate of 4.000%.

As of April 30, 2025 and July 31, 2024, there were no outstanding ABL borrowings. Availability under the ABL agreement is subject to a borrowing base based on a percentage of applicable eligible receivables and eligible inventory, net of any amounts drawn, and based on April 30, 2025 eligible receivables and eligible inventory balances and net of any amounts drawn, totaled approximately $985,000.

For the three and nine months ended April 30, 2025, interest expense on total long-term debt was $14,020 and $47,057, respectively. These interest expense amounts include the amortization of capitalized debt issuance costs of $1,320 and $4,847, for the three and nine months ended April 30, 2025, respectively. For the three and nine months ended April 30, 2024, interest expense on total long-term debt was $24,366 and $78,113, respectively, which includes amortization of capitalized debt issuance costs and debt extinguishment charges related to the November 2023 debt refinancing totaling $3,036 and $14,900, respectively.

The fair value of the Company’s term loan debt at April 30, 2025 and July 31, 2024 was $500,136 and $597,334, respectively. The fair value of the Company’s Senior Unsecured Notes at April 30, 2025 and July 31, 2024 was $450,650 and $450,450, respectively. The fair value of all other debt held by the Company approximates carrying value. The fair values of the Company’s long-term debt are primarily estimated using Level 2 inputs as defined by ASC 820, based on quoted prices in markets that are not active.