Debt |
6 Months Ended |
---|---|
Nov. 30, 2020 | |
Debt Disclosure [Abstract] | |
Debt |
NOTE I – Debt We maintain a $500,000,000 multi-year revolving credit facility (the “Credit Facility”) with a group of lenders which matures in February 2023. Borrowings under the Credit Facility have maturities of up to one year. We have the option to borrow at rates equal to an applicable margin over the LIBOR, Prime Rate or Overnight Bank Funding Rate. The applicable margin is determined by our credit rating. There were no borrowings or letters of credit outstanding under the Credit Facility at November 30, 2020. |