This excerpt taken from the GIS 10-Q filed Jan 5, 2007.
(10) Notes Payable and Current Portion of Long-Term Debt
The components of notes payable at the end of the respective periods were as follows:
To ensure availability of funds, we maintain bank credit lines sufficient to cover our outstanding short-term borrowings. During the thirteen weeks ended November 26, 2006, a $1.1 billion 364-day credit facility, which was scheduled to expire in October 2006, was renewed on substantially the same terms for an additional 364-day period, expiring in October 2007.
As of November 26, 2006, our zero coupon convertible debentures are included in the current portion of long-term debt based on the put rights of the holders.