Table of Contents General: The obligations under the 2018 Credit Agreement and the Term Credit Agreement are guaranteed by certain of our U.S. subsidiaries. We and our subsidiaries are subject to covenants that are contained in the 2018 Credit Agreement and the Term Credit Agreement, including those restricting the incurrence of additional indebtedness (including guarantees of indebtedness) by subsidiaries that are not guarantors, additional liens, mergers and consolidations, transactions with affiliates, and sale and leaseback transactions, in each case subject to numerous conditions, exceptions and thresholds. The financial covenants are limited to a minimum interest coverage ratio and a maximum net leverage ratio. Our senior credit facility permits us to elect, subject to the willingness of existing or new lenders to fund such increase or term loans and other customary conditions, to increase the revolving credit commitments or add one or more tranches of additional term loans (the “Incremental Facilities”). The Incremental Facilities may be an unlimited amount so long as our leverage ratio, as defined and computed pursuant to our senior credit facility, is no greater than 4.00 to 1.00 subject to certain limitations for the period defined pursuant to our senior credit facility. As of February 28, 2019, aggregate credit facilities under the 2018 Credit Agreement and the Term Credit Agreement consist of the following: (1) Contractual interest rate varies based on our debt rating (as defined in the respective agreement) and is a function of LIBOR plus a margin, or the base rate plus a margin, or, in certain circumstances where LIBOR cannot be adequately ascertained or available, an alternative benchmark rate plus a margin. (2) We and/or CB International are the borrower under the $2,000.0 million Revolving Credit Facility. Includes a sub-facility for letters of credit of up to $200.0 million. (3) We are the borrower under the U.S. Term A-1 loan facility, the Three-Year Term Facility and the Five-Year Term Facility. As of February 28, 2019, information with respect to borrowings under the 2018 Credit Agreement and the Term Credit Agreement is as follows: (1) Outstanding term loan facility borrowings are net of unamortized debt issuance costs. (2) Net of outstanding revolving credit facility borrowings and outstanding letters of credit under the 2018 Credit Agreement and outstanding borrowings under our commercial paper program of $733.5 million (excluding unamortized discount) (see “Commercial paper program”). Commercial paper program  – In October 2017, we implemented a commercial paper program which provided for the issuance of up to an aggregate principal amount of $1.0 billion of commercial paper. In October 2018, our Board of Directors 83 Amount Maturity Amount Maturity (in millions) 2018 Credit Agreement  Term Credit Agreement Revolving Credit Facility  (1) (2) $ 2,000.0 Sept 14, 2023 Three-Year Term Facility  (1) (3) $ 500.0 Nov 1, 2021 U.S. Term A-1 Facility  (1) (3) 500.0 July 14, 2024  Five-Year Term Facility  (1) (3) 1,000.0 Nov 1, 2023 $ 2,500.0 $ 1,500.0 2018 Credit Agreement Term Credit Agreement Revolving Credit Facility U.S. Term A Facility  (1) Three-Year Term Facility  (1) Five-Year Term Facility  (1) (in millions) Outstanding borrowings $ 59.0 $ 492.8 $ 499.5 $ 986.9 Interest rate 3.6% 4.0% 3.6% 3.8% LIBOR margin 1.13 % 1.50 % 1.13 % 1.25 % Outstanding letters of credit $ 10.8 Remaining borrowing capacity  (2) $ 1,196.7