Debt

9 Months Ended

Jun. 30, 2021

Debt Disclosure [Abstract]

Debt

DEBT

Debt Repayment

In June 2021, we repaid a 0.375% Eurobond of €350.0 million, plus interest, on its maturity date.

Credit Facilities

On 31 March 2021, we entered into a five-year $2,500 revolving credit agreement with a syndicate of banks (the “2021 Credit Agreement”), under which senior unsecured debt is available to us and certain of our subsidiaries. The 2021 Credit Agreement provides a source of liquidity and supports our commercial paper program. The only financial covenant in the 2021 Credit Agreement is a maximum ratio of total debt to capitalization (equal to total debt plus total equity) not to exceed 70%. No borrowings were outstanding under the 2021 Credit Agreement as of 30 June 2021.

The 2021 Credit Agreement replaced our previous five-year $2,300 revolving credit agreement, which was to have matured on 31 March 2022. No borrowings were outstanding under the previous agreement as of 30 September 2020 or at the time of its termination. No early termination penalties were incurred.

In addition, we have credit facilities available to certain of our foreign subsidiaries totaling $296.2, of which $157.9 was borrowed and outstanding as of 30 June 2021.

2020 Debt Issuance

In the third quarter of fiscal year 2020, we issued U.S. Dollar- and Euro-denominated fixed-rate notes with aggregate principal amounts of $3.8 billion and €1.0 billion, respectively. Our consolidated statement of cash flows for the nine months ended 30 June 2020 includes long-term debt proceeds of $4,895.7 from these issuances.