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Credit Facilities
9 Months Ended
Apr. 30, 2013
Credit Facilities [Abstract]  
Credit Facilities

Note M – Credit Facilities

          On December 7, 2012, the Company entered into a five-year, multi-currency revolving credit facility with a group of banks under which the Company may borrow up to $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. As of April 30, 2013, there was $30.0 million of borrowings under this facility. The weighted average interest rate on short-term borrowings outstanding at April 30, 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 April 30, 2013, the Company was in compliance with all such covenants. The Company expects to remain in compliance with these covenants.