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Long-Term Borrowings
 12 Months Ended
Oct. 31, 2013
Long-Term Borrowings  
Long-Term Borrowings

Note 9. Long-Term Borrowings

 

Long-term borrowings of the Company at October 31 consisted of the following (in millions of dollars):

 

 

 

2013

 

2012

 

Senior Debt:

 

 

 

 

 

Medium-term notes due 2014-2023 (principal $13,447 - 2013, $13,759 - 2012):

 

$

13,693.4

*

$

14,230.3

*

Average interest rate of 1.1% - 2013, 1.5% - 2012

 

 

 

 

 

2.75% Senior notes due 2022 ($500 principal):

 

491.1

*

518.4

*

Swapped $500 to variable interest rate of .9% - 2013, 1.1% - 2012

 

 

 

 

 

Other notes

 

25.1

 

37.9

 

Total senior debt

 

14,209.6

 

14,786.6

 

Unamortized debt discount

 

(14.5

)

(16.7

)

Total **

 

$

14,195.1

 

$

14,769.9

 

 

*                                         Includes unamortized fair value adjustments related to interest rate swaps.

 

**                                  All interest rates are as of year-end.

 

The approximate principal amounts of long-term borrowings maturing in each of the next five years, in millions of dollars, are as follows: 2014 - $3,602, 2015 - $3,890, 2016 - $2,719, 2017 - $2,400 and 2018 - $1,964.