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Long-Term Debt
9 Months Ended
Apr. 30, 2022
Debt Disclosure [Abstract]  
Long-Term Debt Long-Term Debt
As of April 30, 2022, there was $407.5 million available on the Company’s $500.0 million unsecured revolving credit facility that expires on May 21, 2026. In the third quarter of fiscal 2022, the Company borrowed a net $60.0 million on its unsecured revolving credit facility.
The Company entered into an agreement in which the Company would issue and sell two tranches of unsecured senior notes, totaling $150.0 million. The first tranche, issued in August 2021, was a $100.0 million 10 year note due 2031 at a fixed interest rate of 2.50%. The second tranche, issued in November 2021, was a $50.0 million seven year note due 2028 at a fixed interest rate of 2.12%.
Certain debt agreements contain financial covenants related to interest coverage and leverage ratios, as well as other non-financial covenants. As of April 30, 2022, the Company was in compliance with all such covenants.