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Subsequent Events
12 Months Ended
Oct. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Event

$400 million Term Loan on November 1, 2018

On November 1, 2018, subsequent to the fiscal year ended October 31, 2018, the Company entered into a 364-day, $400.0 million, senior unsecured term loan agreement by and among the Company, the lenders party thereto and PNC Bank, National Association, as administrative agent (2018 Term Loan Agreement) which matures on October 31, 2019. The Company used the funds to partially repay outstanding borrowings under the 2016 Revolving Credit Facility.

Amounts outstanding under the 2018 Term Loan Agreement will bear interest, at the Company’s option, at either the alternate base rate, or the adjusted LIBO rate (each as defined in the 2018 Term Loan Agreement), plus, in the case of adjusted LIBO rate loans, an applicable rate of 60 basis points.

The 2018 Term Loan Agreement contains customary restrictive covenants, as well as financial covenants that require the Company to maintain a certain total leverage ratio and interest coverage ratio, each as defined in the 2018 Term Loan Agreement, consistent with the 2016 Credit Agreement and the 2017 Term Loan Agreement, as discussed in See Note 4. Debt for additional information.