As of August 31, 2011, the Company had the following
borrowing facilities:
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Facility
Amount |
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Borrowings
Under
Facilities |
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Syndicated loan
facility(1)
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$ |
1,200,000 |
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$ |
— |
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Separate, uncommitted,
unsecured multicurrency revolving credit facilities(2)
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480,090 |
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— |
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Local guaranteed and
non-guaranteed lines of credit(3)
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169,170 |
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— |
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Total
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$ |
1,849,260 |
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$ |
— |
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| (1) |
This facility, which matures on July 31, 2012, provides
unsecured, revolving borrowing capacity for general working capital
purposes, including the issuance of letters of credit. Financing is
provided under this facility at the prime rate or at the London
Interbank Offered Rate plus a spread. The Company continues to be
in compliance with relevant covenant terms. The facility is subject
to annual commitment fees. As of August 31, 2011 and 2010, the
Company had no borrowings under the facility.
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| (2) |
The Company maintains separate, uncommitted and unsecured
multicurrency revolving credit facilities. These facilities provide
local currency financing for the majority of the Company’s
operations. Interest rate terms on the revolving facilities are at
market rates prevailing in the relevant local markets. As of
August 31, 2011 and 2010, the Company had no borrowings under
these facilities.
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| (3) |
The Company also maintains local guaranteed and non-guaranteed
lines of credit for those locations that cannot access the
Company’s global facilities. As of August 31, 2011 and
2010, the Company had no borrowings under these various
facilities.
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