Short-Term Debt	9 Months Ended
May 31, 2013
Short-Term Debt
Short-Term Debt	Note 5: Short-Term Debt The Company had a seasonal line of credit through May 31, 2013 with a consortium of lenders led by CoBank, ACB of $410.0 million along with an additional $50.0 million which can be utilized for either short-term or long-term borrowing purposes. On June 1, 2013, the seasonal line of credit is reduced to $350.0 million through July 19, 2015. The availability of the additional $50.0 million which can be utilized for either short-term or long-term borrowing purposes remains unchanged during this time. The Company also has a line of credit with Wells Fargo Bank for $1.0 million. The Company’s commercial paper program provides short-term borrowings up to the amount of the CoBank, ACB seasonal line of credit. Any borrowings under the commercial paper program along with outstanding short-term letters of credit will act to reduce the available credit under the CoBank, ACB seasonal line of credit by a commensurate amount. The Company can also utilize the Commodity Credit Corporation (CCC) to meet its short-term borrowing needs. The Company can borrow funds on a non-recourse basis from the CCC, with repayment of such funds secured by sugar. The limitations on such borrowings are based on the amount of the Company’s sugar inventory and certain loan covenant restrictions by CoBank, ACB. As of May 31, 2013, the Company had the capacity to obtain additional non-recourse loans from the CCC of approximately $217.8 million. As of May 31, 2013, the Company had outstanding commercial paper of $261.4 million at interest rates of .36% to .44% and maturity dates between June 1, 2013 and July 8, 2013. In addition, the Company had outstanding non-recourse loans with the CCC as of May 31, 2013 of $35.9 million, against which 1.5 million hundredweight of sugar was pledged as collateral. The CCC loans carried an interest rate of 1.125 % and a maturity date of September 30, 2013. The Company had no outstanding short-term debt with CoBank, ACB or Wells Fargo Bank as of May 31, 2013. The Company had $3.2 million of short-term letters of credit outstanding and $3.1 million of the $50.0 million additional line of credit was utilized for long-term borrowing purposes as of May 31, 2013. The unused line of credit as of May 31, 2013 was $193.3 million which includes $46.9 million that can also be utilized for long-term borrowing purposes. As of May 31, 2012, the Company had outstanding commercial paper of $297.0 million at interest rates of .42% to .55% and maturity dates between June 1, 2012 and July 13, 2012. The Company had no outstanding short-term debt with CoBank, ACB, Wells Fargo Bank or the CCC as of May 31, 2012. The Company had $3.3 million of short-term letters of credit outstanding and $3.1 million of the $50.0 million additional line of credit was utilized for long-term borrowing purposes as of May 31, 2012. The unused line of credit as of May 31, 2012 was $97.6 million which included $46.9 million that could also be utilized for long-term borrowing purposes.

Note 5: Short-Term Debt

The Company had a seasonal line of credit through May 31, 2013 with a consortium of lenders led by CoBank, ACB of $410.0 million along with an additional $50.0 million which can be utilized for either short-term or long-term borrowing purposes. On June 1, 2013, the seasonal line of credit is reduced to $350.0 million through July 19, 2015. The availability of the additional $50.0 million which can be utilized for either short-term or long-term borrowing purposes remains unchanged during this time. The Company also has a line of credit with Wells Fargo Bank for $1.0 million. The Company’s commercial paper program provides short-term borrowings up to the amount of the CoBank, ACB seasonal line of credit. Any borrowings under the commercial paper program along with outstanding short-term letters of credit will act to reduce the available credit under the CoBank, ACB seasonal line of credit by a commensurate amount.

The Company can also utilize the Commodity Credit Corporation (CCC) to meet its short-term borrowing needs. The Company can borrow funds on a non-recourse basis from the CCC, with repayment of such funds secured by sugar. The limitations on such borrowings are based on the amount of the Company’s sugar inventory and certain loan covenant restrictions by CoBank, ACB. As of May 31, 2013, the Company had the capacity to obtain additional non-recourse loans from the CCC of approximately $217.8 million.

As of May 31, 2013, the Company had outstanding commercial paper of $261.4 million at interest rates of .36% to .44% and maturity dates between June 1, 2013 and July 8, 2013. In addition, the Company had outstanding non-recourse loans with the CCC as of May 31, 2013 of $35.9 million, against which 1.5 million hundredweight of sugar was pledged as collateral. The CCC loans carried an interest rate of 1.125 % and a maturity date of September 30, 2013. The Company had no outstanding short-term debt with CoBank, ACB or Wells Fargo Bank as of May 31, 2013. The Company had $3.2 million of short-term letters of credit outstanding and $3.1 million of the $50.0 million additional line of credit was utilized for long-term borrowing purposes as of May 31, 2013. The unused line of credit as of May 31, 2013 was $193.3 million which includes $46.9 million that can also be utilized for long-term borrowing purposes.

As of May 31, 2012, the Company had outstanding commercial paper of $297.0 million at interest rates of .42% to .55% and maturity dates between June 1, 2012 and July 13, 2012. The Company had no outstanding short-term debt with CoBank, ACB, Wells Fargo Bank or the CCC as of May 31, 2012. The Company had $3.3 million of short-term letters of credit outstanding and $3.1 million of the $50.0 million additional line of credit was utilized for long-term borrowing purposes as of May 31, 2012. The unused line of credit as of May 31, 2012 was $97.6 million which included $46.9 million that could also be utilized for long-term borrowing purposes.