v3.25.0.1
DEBT
 3 Months Ended
Dec. 29, 2024
Debt Disclosure [Abstract]  
DEBT DEBT
Debt with external lenders consist of the following:
December 29, 2024September 30, 2024
(in millions)AmountRateAmountRate
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 leases79.0 5.4 %81.6 5.4 %
Total debt575.1 577.7 
Debt issuance costs(16.3)(16.9)
Less current portion(9.2)(9.4)
Long-term debt, net of current portion$549.6 $551.4 
Credit Agreement
As of December 29, 2024, there are no borrowings outstanding under the Company’s $500.0 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 $490.8 million, net outstanding letters of credit of $9.2 million.
3.375% Exchangeable Notes due June 1, 2029
Effective November 13, 2024, the Company increased its quarterly dividend rate to $0.47 per share. As such, the exchange rate for the Company's 3.375% Exchangeable Notes due June 1, 2029 was adjusted to 8.2105 shares of common stock per $1,000 principal amount of notes (which is equal to an initial conversion price of approximately $121.80 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 $121.80 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 $159.27 per share, subject to certain additional adjustments.