| Summary of debt |
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September 30,
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December 31,
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Effective
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Issuance
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Maturity
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Unsecured Senior Notes
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2017
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2016
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Interest Rate
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Date
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Date
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(in thousands)
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$250M 4.800% Guaranteed Notes due 2022
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$
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250,000
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$
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250,000
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4.82
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%
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Jun-12
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Jul-22
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$300M 4.375% Guaranteed Notes due 2023 (1)
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300,000
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250,000
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4.33
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%
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Various(1)
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Dec-23
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$300M 4.000% Guaranteed Notes due 2025 (2)
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300,000
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250,000
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3.99
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%
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Various(2)
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Nov-25
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$300M 3.125% Guaranteed Notes due 2026
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|
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300,000
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300,000
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3.18
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%
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Aug-16
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Sep-26
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Principal balance outstanding
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1,150,000
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1,050,000
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Less: Discount on issuance of unsecured senior
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notes, net
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(630)
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(3,971)
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Less: Loan procurement costs, net
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(7,176)
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(6,953)
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Total unsecured senior notes, net
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$
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1,142,194
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$
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1,039,076
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(1)
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On April 4, 2017, the Operating Partnership issued $50.0 million of its 4.375% senior notes due 2023, which are part of the same series as the $250.0 million principal amount of the Operating Partnership’s 4.375% senior notes due December 15, 2023 issued on December 17, 2013. The $50.0 million and $250.0 million traunches were priced at 105.040% and 98.995%, respectively, of the principal amount to yield 3.495% and 4.501%, respectively, to maturity. The combined weighted-average effective interest rate of the 2023 notes is 4.330%. |
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(2)
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On April 4, 2017, the Operating Partnership issued $50.0 million of its 4.000% senior notes due 2025, which are part of the same series as the $250.0 million principal amount of the Operating Partnership’s 4.000% senior notes due November 15, 2025 issued on October 26, 2015. The $50.0 million and $250.0 million traunches were priced at 101.343% and 99.735%, respectively, of the principal amount to yield 3.811% and 4.032%, respectively, to maturity. The combined weighted-average effective interest rate of the 2025 notes is 3.994%. |
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