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SUBSEQUENT EVENTS | 3 Months Ended
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Jul. 31, 2018
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | SUBSEQUENT EVENTS Subsequent to quarter end, we amended our primary unsecured credit facility (see Note 9 - Debt) to:
• | increase the overall unsecured facility from $370.0 million to $395.0 million, reallocating the commitment for the revolving line of credit to $250.0 million and the remaining $145.0 million between two term loans;
• | extend the maturity of the revolving line of credit to August 2022;
• | extend the existing $70.0 million unsecured term loan maturity to January 2024;
• | add a new $75.0 million, 7-year unsecured term loan maturing in August 2025; and
• | reduce the margin pricing on the revolving line of credit and the $70.0 million term loan to achieve an overall lower interest rate on borrowings under this facility.
We also entered into a swap agreement for the entire $75.0 million and full term loan of the new unsecured 7-year loan in our ongoing effort to reduce floating interest rate exposure. We continue to maintain a $200.0 million accordion option that can be accessed by increasing lending commitments.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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