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DEBT | 12 Months Ended
--- | ---
Oct. 31, 2020
Debt Disclosure [Abstract] |
DEBT | 19. DEBT The following table summarizes the components of our long-term debt:
| October 31,
| 2020 |  | 2019
| (in millions)
2024 Senior Notes at 4.55% ($600 face amount less unamortized costs of $2 and $3) | $ | 598 |  |  | $ | 597 |
2027 Senior Notes at 4.60% ($700 face amount less unamortized costs of $5 and $5) | 695 |  |  | 695 |
2029 Senior Notes at 3.00% ($500 face amount less unamortized costs of $4 and $4) | 496 |  |  | 496 |
| $ | 1,789 |  |  | $ | 1,788 |
Short-Term Debt Revolving Credit Facility On February 15, 2017, we entered into an amended and restated credit agreement (the “Revolving Credit Facility”) that replaced our existing $450 million unsecured credit facility dated September 15, 2014. The Revolving Credit Facility provides for a $450 million, five-year unsecured revolving credit facility that will expire on February 15, 2022 and bears interest at an annual rate of LIBOR + 1.10 percent. In addition, the Revolving Credit Facility permits us to increase the total commitments under this credit facility by up to $150 million in the aggregate on one or more occasions upon request. We may use amounts borrowed under the facility for general corporate purposes. As of October 31, 2020, we had no borrowings outstanding under the Revolving Credit Facility. We were in compliance with the covenants of the Revolving Credit Facility during the year ended October 31, 2020. Other During the year ended October 31, 2020, we repaid $7 million of debt assumed with the acquisition of Eggplant. Long-Term Debt The below senior notes are unsecured and rank equally in right of payment with all of our other senior unsecured indebtedness. 2024 Senior Notes In October 2014, the company issued an aggregate principal amount of $600 million in unsecured senior notes ("2024 Senior Notes"). The 2024 Senior Notes were issued at 99.966 percent of their principal amount. The notes will mature on October 30, 2024, and bear interest at a fixed rate of 4.55 percent per annum. The interest is payable semi-annually on April 30 and October 30 of each year. We incurred issuance costs of $5 million in connection with the 2024 Senior Notes that are being amortized to interest expense over the term of the senior notes. 2027 Senior Notes In April 2017, the company issued an aggregate principal amount of $700 million in unsecured senior notes ("2027 Senior Notes"). The 2027 Senior Notes were issued at 99.873 percent of their principal amount. The notes will mature on April 6, 2027 and bear interest at a fixed rate of 4.60 percent per annum. The interest is payable semi-annually on April 6 and October 6 of each year, commencing on October 6, 2017. We incurred issuance costs of $6 million in connection with the 2027 Senior Notes that, along with the debt discount, are being amortized to interest expense over the term of the senior notes. 2029 Senior Notes In October 2019, the company issued an aggregate principal amount of $500 million in unsecured senior notes ("2029 Senior Notes"). The 2029 Senior Notes were issued at 99.914 percent of their principal amount. The notes will mature on October 30, 2029 and bear interest at a fixed rate of 3.00 percent per annum. The interest is payable semi-annually on April 30 and October 30 of each year, commencing on April 30, 2020. We incurred issuance costs of $4 million in connection with the 2029 Senior Notes that, along with the debt discount are being amortized to interest expense over the term of the senior notes. Letters of Credit As of October 31, 2020 and October 31, 2019, we had $40 million and $37 million, respectively, of outstanding letters of credit and surety bonds unrelated to the credit facility that were issued by various lenders.

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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