Debt

Our long-term debt (net of unamortized discount and issuance costs) consisted of:



(Principal and carrying amounts in millions)	April 30, 2016		July 31, 2016
1.00% notes, $250 principal amount, due in fiscal 2018	$	249	$	249
2.25% notes, $250 principal amount, due in fiscal 2023	248		248
1.20% notes, €300 principal amount, due in fiscal 2027	—		332
2.60% notes, £300 principal amount, due in fiscal 2029	—		391
3.75% notes, $250 principal amount, due in fiscal 2043	248		248
4.50% notes, $500 principal amount, due in fiscal 2046	485		485
	$	1,230	$	1,953

We issued senior, unsecured notes with an aggregate principal amount of 300 million euros in July 2016. Interest on these notes will accrue at a rate of 1.20% and be paid annually. As of July 31, 2016, the carrying amount of these notes was $332 million ($335 million principal, less unamortized discounts and issuance costs). These notes are due on July 7, 2026.

In addition, we issued senior, unsecured notes with an aggregate principal amount of 300 million British pounds in July 2016. Interest on these notes will accrue at a rate of 2.60% and be paid annually. As of July 31, 2016, the carrying amount of these notes was $391 million ($397 million principal, less unamortized discounts and issuance costs). These notes are due on July 7, 2028.

As of April 30, 2016, our short-term borrowings of $271 million included $269 million of commercial paper, with an average interest rate of 0.53% and a remaining maturity of 26 days. As of July 31, 2016, our short-term borrowings of $288 million included $285 million of commercial paper, with an average interest rate of 0.66% and a remaining maturity of 12 days.