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Credit Facilities
6 Months Ended
Jan. 31, 2013
Credit Facilities [Abstract]  
Credit Facilities

Note M – Credit Facilities

          On December 7, 2012, the Company entered into a new five-year multi-currency revolving credit facility with a group of banks in the amount of $250.0 million. The agreement provides that loans may be made under a selection of currencies and rate formulas including Base Rate Loans or LIBOR Rate Loans. The interest rate on each advance is based on certain market interest rates and leverage ratios. Facility fees and other fees on the entire loan commitment are payable over the duration of this facility. Upon closing of the agreement on December 7, 2012, the agreement replaced the Company's previously existing $250.0 million revolving credit facility, which would have expired in accordance with its terms on April 2, 2013. As of January 31, 2013, there was $55.0 million of borrowings under this facility. The weighted average interest rate on short-term borrowings outstanding at January 31, 2013 was 1.1 percent. The multi-currency revolving facility contains debt covenants specifically related to maintaining a certain interest coverage ratio, and a certain leverage ratio as well as other covenants that, under certain circumstances, can restrict the Company's ability to incur additional indebtedness, make investments and other restricted payments, create liens, and sell assets. As of January 31, 2013, the Company was in compliance with all such covenants. The Company expects to remain in compliance with these covenants.