| Schedule of senior unsecured notes |
The following table summarizes the Company’s senior unsecured notes issuances during the year ended December 31, 2019 (dollars in thousands): | | | | | | | | | | | Date | | Amount | | Coupon Rate | | Maturity Date | November 21, 2019 | | $ | 750,000 |
| | 3.000 | % | | 2030 | July 5, 2019 | | $ | 650,000 |
| | 3.250 | % | | 2026 | July 5, 2019 | | $ | 650,000 |
| | 3.500 | % | | 2029 |
There were no senior unsecured notes issuances for the years ended December 31, 2018 and 2017.
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| Summary of senior unsecured notes payoffs (dollars in thousands) |
The following table summarizes the Company’s senior unsecured notes payoffs for the periods presented (dollars in thousands): | | | | | | | | | | | Date | | Amount | | Coupon Rate | | Maturity Date | Year ended December 31, 2019: | | | | | | | November 21, 2019(1) | | $ | 350,000 |
| | 4.000 | % | | 2022 | July 22, 2019(2) | | $ | 800,000 |
| | 2.625 | % | | 2020 | July 8, 2019(2) | | $ | 250,000 |
| | 4.000 | % | | 2022 | July 8, 2019(2) | | $ | 250,000 |
| | 4.250 | % | | 2023 | Year ended December 31, 2018: | | | | |
| | | November 8, 2018 | | $ | 450,000 |
| | 3.750 | % | | 2019 | July 16, 2018(3) | | $ | 700,000 |
| | 5.375 | % | | 2021 | Year ended December 31, 2017: | | | | | | | July 27, 2017(4) | | $ | 500,000 |
| | 5.375 | % | | 2021 | May 1, 2017 | | $ | 250,000 |
| | 5.625 | % | | 2017 |
_______________________________________ | | (1) | The Company recognized a $22 million loss on debt extinguishment related to the repurchase of senior notes. |
| | (2) | Upon completing the redemption of the 2.625% senior unsecured notes due February 2020 and repurchasing a portion of the 4.250% senior unsecured notes due 2023 and the 4.000% senior unsecured notes due 2022, the Company recognized a $35 million loss on debt extinguishment. |
| | (3) | The Company recognized a $44 million loss on debt extinguishment related to the repurchase of senior notes. |
(4) The Company recognized a $54 million loss on debt extinguishment related to the repurchase of senior notes.
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| Summary of stated debt maturities and scheduled principal repayments (in thousands) |
The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2019 (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Senior Unsecured Notes(1) | | Mortgage Debt(2) | | | Year | | Bank Line of Credit | | Commercial Paper | | Term Loan | | Amount | | Interest Rate | | Amount | | Interest Rate | | Total(3) | 2020 | | $ | — |
| | $ | 93,000 |
| | $ | — |
| | $ | — |
| | — | % | | $ | 4,132 |
| | 5.08 | % | | $ | 97,132 |
| 2021 | | — |
| | — |
| | — |
| | — |
| | — | % | | 11,821 |
| | 5.26 | % | | 11,821 |
| 2022 | | — |
| | — |
| | — |
| | 300,000 |
| | 3.37 | % | | 3,886 |
| | — | % | | 303,886 |
| 2023 | | — |
| | — |
| | — |
| | 550,000 |
| | 4.37 | % | | 4,069 |
| | — | % | | 554,069 |
| 2024 | | — |
| | — |
| | 250,000 |
| | 1,150,000 |
| | 4.17 | % | | 4,247 |
| | — | % | | 1,404,247 |
| Thereafter | | — |
| | — |
| | — |
| | 3,700,000 |
| | 3.86 | % | | 236,089 |
| | 4.09 | % | | 3,936,089 |
| | | — |
| | 93,000 |
| | 250,000 |
| | 5,700,000 |
| | | | 264,244 |
| | | | 6,307,244 |
| (Discounts), premium and debt costs, net | | — |
| | — |
| | (1,058 | ) | | (52,007 | ) | | | | 12,663 |
| | | | (40,402 | ) | | | — |
| | 93,000 |
| | 248,942 |
| | 5,647,993 |
| | | | 276,907 |
| | | | 6,266,842 |
| Debt on assets held for sale(4) | | — |
| | — |
| | — |
| | — |
| | | | 32,289 |
| | | | 32,289 |
| | | $ | — |
| | $ | 93,000 |
| | $ | 248,942 |
| | $ | 5,647,993 |
| |
|
| | $ | 309,196 |
| |
|
| | $ | 6,299,131 |
|
_______________________________________ | | (1) | Effective interest rates on the senior notes range from 3.14% to 6.87% with a weighted average effective interest rate of 3.94% and a weighted average maturity of seven years. |
| | (2) | Excluding mortgage debt on assets held for sale, effective interest rates on the mortgage debt range from 2.22% to 5.91% with a weighted average effective interest rate of 4.09% and a weighted average maturity of 13 years. |
| | (3) | Excludes $85 million of other debt that has no scheduled maturities. Other debt represents (i) $52 million of non-interest bearing life care bonds and occupancy fee deposits at certain of the Company's senior housing facilities and (ii) $33 million of on-demand notes from the CCRC JV which bear interest at a rate of 3.6%. |
(4) Represents mortgage debt on assets held for sale with interest rates that ranged from 3.45% to 6.80% and matures in 2026, 2028, and 2044.
|