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Unsecured Debt
9 Months Ended
Aug. 31, 2018
Debt Disclosure [Abstract]  
Unsecured Debt
Unsecured Debt

At August 31, 2018, our short-term borrowings consisted of euro- denominated commercial paper of $398 million and a euro-denominated bank loan of $234 million due in 2019. For the nine months ended August 31, 2018 and 2017, we had borrowings of $2 million and $111 million and repayments of $2 million and $364 million of commercial paper with original maturities greater than three months.

In December 2017, we repaid a $500 million bond and borrowed $469 million under a sterling-denominated floating rate bank loan due in 2022.

In January 2018, we repaid $365 million of euro-denominated floating rate bank loans prior to their 2018 and 2021 maturity dates.

In March 2018, we borrowed $370 million under a euro-denominated floating rate bank loan due in 2020 and borrowed $567 million under an export credit facility due in semi-annual installments through 2030.

In April 2018, we borrowed $229 million under an export credit facility due in semi-annual installments through 2030.

In June 2018, we entered into a $914 million export credit facility, which may be drawn in euro or U.S. dollars in 2022 and will be due in semi-annual installments through 2034. The interest rate on this export credit facility can be fixed or floating, at our discretion.