Borrowings

6 Months Ended

Apr. 30, 2020

Notes Payable and Short-Term Borrowings

Notes payable and short-term borrowings, including the current portion of long-term debt, were as follows:


	As of
	April 30, 2020		October 31, 2019
	In millions
Current portion of long-term debt	$	4,192	$	3,441
FS commercial paper	605		698
Notes payable to banks, lines of credit and other	365		286
Total	$	5,162	$	4,425

In February 2020, the Company issued $755 million of asset-backed debt securities in six tranches at a weighted average price of 99.99% and a weighted average interest rate of 1.87%, payable monthly from April 2020 with a stated final maturity date of February 2030. As of April 30, 2020, the outstanding balance of the asset-backed debt securities was $704 million and future principal payments will be based on the underlying loan and lease payment streams. For more information on the asset-backed debt securities, see Note 8 “Accounting for Leases as a Lessor - Variable Interest Entities”.

In September 2019, the Company issued $763 million asset-backed debt securities in six tranches at a discount to par, at a weighted average price of 99.99% and a weighted average interest rate of 2.31%, payable monthly from November 2019 with a stated final maturity date of September 2029. As of April 30, 2020, the outstanding balance of the asset-backed debt securities was $541 million and future principal payments will be based on the underlying loan and lease payment streams.

Hewlett Packard Enterprise Senior Notes

On April 9, 2020, the Company completed its offering of $1.25 billion of 4.45% Senior Notes due October 2, 2023 (the “2023 Notes”) and $1.0 billion of 4.65% notes due October 1, 2024 (the “2024 Notes”). The Company will pay interest semi-annually on the 2023 Notes on each April 2 and October 2, beginning on October 2, 2020. The Company will pay interest semi-annually on the 2024 Notes on each April 1 and October 1, beginning on October 1, 2020. The net proceeds from these offering will be used for general corporate purposes, including to fund the repayment of the $3.0 billion outstanding principal amount of the 3.6% registered Notes due in October 2020.

Commercial Paper

Hewlett Packard Enterprise maintains two commercial paper programs, and a wholly-owned subsidiary maintains a third program. Hewlett Packard Enterprise's U.S. program provides for the issuance of U.S. dollar-denominated commercial paper up to a maximum aggregate principal amount of $4.75 billion which was increased from $4.0 billion in March 2020. Hewlett Packard Enterprise's euro commercial paper program provides for the issuance of commercial paper outside of the U.S. denominated in U.S. dollars, euros or British pounds up to a maximum aggregate principal amount of $3.0 billion or the equivalent in those alternative currencies. The combined aggregate principal amount of commercial paper outstanding under those two programs at any one time cannot exceed the $4.75 billion as authorized by Hewlett Packard Enterprise's Board of Directors. In addition, the Hewlett Packard Enterprise subsidiary's euro Commercial Paper/Certificate of Deposit Program provides for the issuance of commercial paper in various currencies of up to a maximum aggregate principal amount of $1.0 billion. As of April 30, 2020 and October 31, 2019, no borrowings were outstanding under Hewlett Packard Enterprise’s two commercial paper programs, and $605 million and $698 million, respectively, were outstanding under the subsidiary’s program.