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DEBT
 3 Months Ended
Jan. 31, 2024
Debt Disclosure [Abstract]  
DEBT
10.    DEBT
The following table summarizes the components of our debt:
January 31, 2024October 31, 2023
(in millions)
2024 Senior Notes at 4.55% ($600 face amount less unamortized costs of zero and $1)
$600 $599 
2027 Senior Notes at 4.60% ($700 face amount less unamortized costs of $2 and $2)
698 698 
2029 Senior Notes at 3.00% ($500 face amount less unamortized costs of $3 and $3)
497 497 
ESI Group debt assumed:
Syndicated loan11 — 
State-guaranteed loans10 — 
Other bank borrowings1 — 
Total debt1,817 1,794 
Less: Current portion of long-term debt609 599 
Long-Term Debt$1,208 $1,195 
        
Revolving Credit Facility
On July 30, 2021, we entered into an amended and restated credit agreement (the “Revolving Credit Facility”) which provides a $750 million five-year unsecured revolving credit facility that expires on July 30, 2026 with an annual interest rate of LIBOR + 1 percent along with a facility fee of 0.125 percent per annum. On February 17, 2023, we entered into the first amendment to the Revolving Credit Facility to change the annual interest rate from LIBOR + 1 percent to SOFR + 1.1 percent. In addition, the Revolving Credit Facility permits the company, subject to certain customary conditions, on one or more occasions to request to increase the total commitments under the Revolving Credit Facility by up to $250 million in the aggregate. We may use amounts borrowed under the Revolving Credit Facility for general corporate purposes. As of January
31, 2024 and October 31, 2023, we had no borrowings outstanding under the Revolving Credit Facility. We were in compliance with the covenants of the Revolving Credit Facility during the three months ended January 31, 2024.
As part of the ESI Group acquisition, we assumed a 10 million euros revolving credit facility that expires in April 2025. As of January 31, 2024, we had no borrowings outstanding under the credit facility.
Senior Notes
There have been no changes to the principal, maturity, interest rates and interest payment terms of the senior notes during the three months ended January 31, 2024 as compared to the senior notes described in our Annual Report on Form 10-K for the fiscal year ended October 31, 2023. We were in compliance with the covenants of our senior notes during the three months ended January 31, 2024.
ESI Group debt assumed
As part of the ESI Group acquisition, we assumed debt of $24 million, including $10 million payable within one year. The debt includes a syndicated loan of $11 million payable through yearly installments until April 2025 with an annual interest rate of EURIBOR + 2 to 2.5 percent. We also assumed various fixed interest rate state-guaranteed loans and other bank borrowings of $13 million. During the three months ended January 31, 2024, we repaid $1 million of the state-guaranteed loans.
As of January 31, 2024 and October 31, 2023, we had $42 million and $41 million, respectively, of outstanding letters of credit and surety bonds unrelated to the credit facility that were issued by various lenders.
The fair value of our debt, which is calculated from quoted prices that are primarily Level 1 inputs under the accounting guidance fair value hierarchy is approximately $1,767 million and $1,679 million as of January 31, 2024 and October 31, 2023, respectively