v3.25.2
Debt
 6 Months Ended
Jun. 29, 2025
Debt Disclosure [Abstract]  
Debt Debt
Debt outstanding was as follows:
June 29,December 31,
In millions20252024
4.94% Loan Notes due 2026
$25.0 $25.0 
Revolving credit facility24.0 17.2 
Bank overdraft3.7 3.1 
Unamortized debt issuance costs(0.1)(0.2)
Total debt52.6 45.1 
Less current portion(28.7)(3.1)
Non-current debt$23.9 $42.0 
The weighted-average interest rate on the revolving credit facility was 6.10% for the first half of the year and 7.50% for the full-year 2024.
10.    Debt (continued)
Loan notes due and shelf facility
The Note Purchase Agreement and Private Shelf Agreement requires us to maintain compliance with a minimum interest coverage ratio and a leverage ratio. We have been in compliance with the covenants under the Note Purchase and Private Shelf Agreement throughout all of the quarterly measurement dates from and including September 30, 2014, to June 29, 2025.
The Loan Notes due 2026, the Shelf Facility and the Note Purchase and Private Shelf Agreement are governed by the law of the State of New York. In July 2025 we completed a refinance of our shelf facility, the terms of this remaining the same, with expiry now in July 2030 as opposed to October 2026.
Senior Facilities Agreement
During the first half of 2025, we drew down net $4.9 million on the Revolving Credit Facility and the balance outstanding at June 29, 2025, was $24.0 million, and at December 31, 2024, was $17.2 million, with $101.0 million undrawn at June 29, 2025 and $107.8 million undrawn at December 31,2024.
Bank Overdraft
The bank overdraft is an uncommitted facility with no expiration date, this is reviewed annually and can be cancelled by either the bank or the Company on demand.