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Credit Facility (Tables)

9 Months Ended

Jul. 31, 2020

Credit Facility Information


(in millions)	July 31, 2020		October 31, 2019
Current portion of long-term debt
Gross term loan	$	90.0	$	60.0
Unamortized deferred financing costs	(3.4)		(2.8)
Current portion of term loan	$	86.6	$	57.2

Long-term debt
Gross term loan	$	590.0	$	680.0
Unamortized deferred financing costs	(3.0)		(4.1)
Total noncurrent portion of term loan	586.9		675.9
Revolving line of credit⁽¹⁾⁽²⁾	77.3		68.4
Long-term debt	$	664.2	$	744.2

⁽¹⁾ Standby letters of credit amounted to $153.1 million at July 31, 2020.

⁽²⁾At July 31, 2020, we had borrowing capacity of $563.7 million, reflecting covenant restrictions.

Schedule of Term Loan Maturities

As of July 31, 2020, the following principal payments are required under the term loan.


(in millions)	2020		2021		2022
Debt maturities	$	—	$	120.0	$	560.0

Schedule of Interest Rate Swap Information

Notional Amount

Fixed Interest Rate

Effective Date

Maturity Date

$ 90.0 million

2.83%

November 1, 2018

April 30, 2021

$ 90.0 million

2.84%

November 1, 2018

October 31, 2021

$ 130.0 million

2.86%

November 1, 2018

April 30, 2022

$ 130.0 million

2.84%

November 1, 2018

September 1, 2022

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details