Short-Term Borrowings (Tables)

12 Months Ended

Nov. 30, 2020

Debt Disclosure [Abstract]

Schedule of Short-term Debt

Our short-term borrowings, which mature in one year or less, are as follows (in thousands):

	November 30, 2020		November 30, 2019
Bank loans (1)	$	752,848	$	527,509
Floating rate puttable notes (1)	6,800		—
Equity-linked notes (2)	5,067		20,981
Total short-term borrowings	$	764,715	$	548,490

(1)    These short-term borrowings are recorded at cost in the Consolidated Statements of Financial Condition, which is a reasonable approximation of their fair values due to their liquid and short-term nature.

(2)    See Note 4 for further information on these notes.

Schedule of Line of Credit Facilities

Our facilities included within bank loans at November 30, 2020 and 2019 were as follows (in thousands):

	November 30, 2020		November 30, 2019
Bank of New York Mellon Master Loan Agreement (1)	$	300,000	$	351,000
JPMorgan Chase Bank, N.A. Credit Facility (2)	246,000		135,000
Royal Bank of Canada Credit Facility (3)	200,000		—
Bank of New York Mellon Credit Facility (4)	—		—
Total	$	746,000	$	486,000

(1)    Interest is generally based at spreads over the Federal Funds Rate as defined in this master loan agreement.

(2)    Interest is based on an annual alternative base rate or an adjusted London Interbank Offered Rate ("LIBOR"), as defined in this credit facility agreement.

(3)    Interest is based on a rate per annum equal to LIBOR plus an applicable margin of 2.05%.

(4)    During 2020, Jefferies LLC entered into a revolving credit facility with the Bank of New York Mellon for a committed amount of $100.0 million, maturing on September 13, 2021. Interest is based on a rate per annum equal to the Federal Funds Rate plus 2%. At November 30, 2020, there were no borrowings outstanding under this agreement.