Quarterly report pursuant to Section 13 or 15(d)

Senior Unsecured Notes

v2.4.0.8
Senior Unsecured Notes
9 Months Ended
Sep. 30, 2014
Debt Disclosure [Abstract]  
Senior Unsecured Notes

8.    SENIOR UNSECURED NOTES

 

A summary of the Company’s senior unsecured notes as of September 30, 2014 and December 31, 2013 is as follows(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30,

 

 

December 31,

 

Effective

 

 

 

 

2014 

 

 

2013 

 

Rate (1)

 

5.125% Senior Unsecured Notes, due February 15, 2014 (2)

 

 

 -

 

$

200,030 

 

5.110 

%

5.125% Senior Unsecured Notes, due January 15, 2015

 

$

149,971 

 

 

149,902 

 

5.297 

%

5.800% Senior Unsecured Notes, due January 15, 2016

 

 

200,104 

 

 

200,161 

 

5.806 

%

2.500% Senior Unsecured Notes, due  December 15, 2017

 

 

249,077 

 

 

248,855 

 

2.803 

%

7.750% Senior Unsecured Notes, due August 15, 2019

 

 

248,959 

 

 

248,799 

 

8.017 

%

4.500% Senior Unsecured Notes, due April 18, 2022

 

 

299,550 

 

 

299,505 

 

4.612 

%

3.150% Senior Unsecured Notes, due May 15, 2023

 

 

269,778 

 

 

269,323 

 

3.517 

%

 

 

 

 

 

 

 

 

 

 

Total senior unsecured notes

 

$

1,417,439 

 

$

1,616,575 

 

 

 

 

(1)Includes the cost of terminated treasury lock agreements (if any), offering and other transaction costs and the discount/premium on the notes, as applicable.

(2)On February 17, 2014, the Company repaid these notes at their maturity using available cash and borrowings on the Company’s unsecured revolving credit facility.

 

The terms of the Company’s senior unsecured notes include certain restrictions and covenants which require compliance with financial ratios relating to the maximum amount of debt leverage, the maximum amount of secured indebtedness, the minimum amount of debt service coverage and the maximum amount of unsecured debt as a percent of unsecured assets.   The Company was in compliance with its debt covenants as of September 30, 2014.