Debt

9 Months Ended

Oct. 31, 2019

DEBT


(in millions)	October 31, 2019		January 31, 2019		October 31, 2018
Short-term borrowings:
Credit Facilities	$	22.6	$	13.5	$	—
Other credit facilities	67.3		99.9		68.9
	$	89.9	$	113.4	$	68.9


Long-term debt:
Unsecured Senior Notes:
2012 4.40% Series B Senior Notes, due July 2042 ^a	$	250.0	$	250.0	$	250.0
2014 3.80% Senior Notes, due October 2024 ^{b, c}	250.0		250.0		250.0
2014 4.90% Senior Notes, due October 2044 ^{b, c}	300.0		300.0		300.0
2016 0.78% Senior Notes, due August 2026 ^{b, d}	91.8		91.8		88.5
	891.8		891.8		888.5
Less: unamortized discounts and debt issuance costs	(8.0)		(8.4)		(8.5)
	$	883.8	$	883.4	$	880.0

^aThe agreements governing these Senior Notes require repayments of $50.0 million in aggregate every five years beginning in July 2022.

^bThese agreements require lump sum repayments upon maturity.

^cThese Senior Notes were issued at a discount, which will be amortized until the debt maturity.

^dThese Senior Notes were issued at par, ¥10.0 billion.

In June 2019, the Registrant's indirect, wholly owned subsidiary, Tiffany & Co. (Shanghai) Commercial Company Limited ("Tiffany-Shanghai"), entered into a three-year multi-bank revolving credit agreement (the "Tiffany-Shanghai Credit Agreement"). The Tiffany-Shanghai Credit Agreement has an aggregate borrowing limit of RMB 408.0 million ($57.8 million at October 31, 2019), which may be increased to the RMB equivalent of $100.0 million, subject to certain conditions and limitations, at the request of Tiffany-Shanghai. The Tiffany-Shanghai Credit Agreement, which matures in July 2022, was made available to refinance amounts outstanding under Tiffany-Shanghai's previously existing RMB 990.0 million three-year multi-bank revolving credit agreement (the "2016 Agreement"), which expired pursuant to its terms on July 11, 2019, as well as for Tiffany-Shanghai's ongoing general working capital requirements. The participating lenders will make loans, upon Tiffany-Shanghai's request, for periods of up to 12 months at the applicable interest rates equal to 95% of the applicable rate as announced by the People's Bank of China (provided, that if such announced rate is below zero, the applicable interest rate shall be deemed to be zero). In connection with the Tiffany-Shanghai Credit Agreement, in June 2019, the Registrant entered into a Guaranty Agreement by and between the Registrant and the facility agent under the Tiffany-Shanghai Credit Agreement (the "Guaranty").

The Tiffany-Shanghai Credit Agreement contains affirmative and negative covenants which are substantially similar to those set forth in the 2016 Agreement including, among others, covenants that limit Tiffany-Shanghai's ability to incur liens and incur certain indebtedness, and the Guaranty requires maintenance by the Registrant of a specific leverage ratio, in addition to other requirements and limitations which are substantially similar to the guaranty entered into by the Registrant in respect of the 2016 Agreement.

There have been no material changes to the agreements governing the Credit Facilities or Senior Notes referenced in the table above since January 31, 2019.

At October 31, 2019, the Company was in compliance with all debt covenants.