v3.25.2
DEBT
 9 Months Ended
Jun. 29, 2025
Debt Disclosure [Abstract]  
DEBT DEBT
Debt with external lenders consist of the following:
June 29, 2025September 30, 2024
(in millions)AmountRateAmountRate
Revolver Facility, variable rate, expiring October 19, 2028$103.0 5.9 %$— — %
3.375% Exchangeable Notes, due June 1, 2029
350.0 3.4 %350.0 3.4 %
5.00% Notes, due October 1, 2029
4.9 5.0 %4.9 5.0 %
5.50% Notes, due July 15, 2030
13.2 5.5 %13.2 5.5 %
3.875% Notes, due March 15, 2031
128.0 3.9 %128.0 3.9 %
Obligations under finance leases82.0 5.5 %81.6 5.4 %
Total debt681.1 577.7 
Debt issuance costs(14.5)(16.9)
Less current portion(10.7)(9.4)
Long-term debt, net of current portion$655.9 $551.4 
Credit Agreement
As of June 29, 2025, there is $103.0 million of borrowings outstanding under the Company’s $500 million revolving credit facility (the “Revolver Facility”) under the Second Amended and Restated Credit Agreement, dated as of October 19, 2023, by and among the Company, SB/RH Holdings, LLC, Royal Bank of Canada, as the administrative agent, and the lenders party thereto, with a borrowing availability under the Revolver Facility of $388.5 million, net outstanding letters of credit of $8.5 million.
3.375% Exchangeable Notes due June 1, 2029 ("Exchangeable Notes")
Subsequent to the issuance of the Exchangeable Notes, the Company increased its quarterly dividend rate to $0.47 per share. As such, the exchange rate for the Exchangeable Notes due June 1, 2029 was adjusted to 8.2229 shares of common stock per $1,000 principal amount of notes (which is equal to an initial conversion price of approximately $121.61 per share of the Company's common stock), subject to further adjustment as set forth in the indenture. Concurrently, the strike price with the associated Capped Calls was updated to approximately $121.61 per share, subject to certain additional adjustments, corresponding to the change in exchange price of the Exchangeable Notes, and the cap price was updated to approximately $159.03 per share, subject to certain additional adjustments.