Annual report pursuant to Section 13 and 15(d)

Long-Term Financing (Tables)

v3.24.2
Long-Term Financing (Tables)
12 Months Ended
May 31, 2024
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt

Long-term debt, at amortized cost, consisted of the following as of:

 

 

 

May 31,

 

In millions

 

2024

 

 

2023

 

Senior Notes, Series A

 

$

 

400.0

 

 

$

 

400.0

 

Senior Notes, Series B

 

 

 

400.0

 

 

 

 

400.0

 

Total long-term borrowings

 

 

 

800.0

 

 

 

 

800.0

 

Less: Debt issuance costs, net of accumulated amortization

 

 

 

(1.4

)

 

 

 

(1.8

)

Long-term borrowings, net of debt issuance costs

 

$

 

798.6

 

 

$

 

798.2

 

 

Certain information related to the Senior Notes, Series A and Senior Notes, Series B (collectively the “Notes”) issued pursuant to the Note Purchase and Guarantee Agreement (the “Agreement”) for fiscal 2024 and fiscal 2023 are as follows:

 

 

 

Senior Notes

 

Senior Notes

 

 

Series A

 

Series B

Stated interest rate

 

4.07%

 

4.25%

Effective interest rate

 

4.14%

 

4.31%

Interest rate type

 

Fixed

 

Fixed

Interest payment dates

 

Semi-annual, in arrears

 

Semi-annual, in arrears

Principal payment dates

 

March 13, 2026

 

March 13, 2029

Note type

 

Unsecured

 

Unsecured