Long Term Debt Instruments

3 Months Ended

Jan. 31, 2016

Long-term Debt, Unclassified [Abstract]

The NCUC approved debt and equity issuances under an effective debt and equity shelf registration statement up to $1 billion through June 6, 2017. As of January 31, 2016, we have $544.1 million remaining for debt and equity issuances as approved by the NCUC. For further information on equity transactions, see Note 7 to the condensed consolidated financial statements in this Form 10-Q. Unless otherwise specified at the time such securities are offered for sale, the net proceeds from the sale of the securities will be used to finance capital expenditures, to repay outstanding short-term, unsecured notes under our commercial paper (CP) program, to refinance other indebtedness, to repurchase our common stock, to pay dividends and for general corporate purposes.

Our long-term debt as of January 31, 2016 and October 31, 2015 is presented below.



In thousands	January 31, 2016			October 31, 2015
Principal	$	1,575,000		$	1,575,000
Unamortized debt issuance expenses and discounts	(11,104		)	(11,323		)
Total	1,563,896			1,563,677
Less current maturities	40,000			40,000
Total long-term debt	$	1,523,896		$	1,523,677

We are subject to default provisions related to our long-term debt and short-term borrowings. Failure to satisfy any of the default provisions may result in total outstanding issues of debt becoming due. There are cross default provisions in all of our debt agreements.