Debt

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



(Principal and carrying amounts in millions)	April 30, 2016		January 31, 2017
1.00% notes, $250 principal amount, due January 15, 2018	$	249	$	249
2.25% notes, $250 principal amount, due January 15, 2023	248		248
1.20% notes, €300 principal amount, due July 7, 2026	—		318
2.60% notes, £300 principal amount, due July 7, 2028	—		369
3.75% notes, $250 principal amount, due January 15, 2043	248		248
4.50% notes, $500 principal amount, due July 15, 2045	485		486
	1,230		1,918
Less current portion	—		249
	$	1,230	$	1,669

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 January 31, 2017, the carrying amount of these notes was $318 million ($321 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 January 31, 2017, the carrying amount of these notes was $369 million ($375 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 January 31, 2017, our short-term borrowings of $308 million included $307 million of commercial paper, with an average interest rate of 0.89% and a remaining maturity of 12 days.