Annual report pursuant to Section 13 and 15(d)

Senior Unsecured Notes

v2.4.0.6
Senior Unsecured Notes
12 Months Ended
Dec. 31, 2011
Senior Unsecured Notes [Abstract]  
Senior Unsecured Notes
8.  
SENIOR UNSECURED NOTES

A summary of the Company's senior unsecured notes as of December 31, 2011 and 2010 is as follows:  (dollars in thousands)

 
December 31,
December 31,
Effective
 
2011
2010
Rate (1)
5.250% Senior Unsecured Notes, due January 15, 2012 (2)
$     99,988
$     99,793
5.457%
6.150% Senior Unsecured Notes, due December 15, 2012
94,438
93,946
6.894%
5.820% Senior Unsecured Notes, due March 15, 2013
25,972
25,861
6.448%
4.600% Senior Unsecured Notes, due June 15, 2013
99,958
99,930
4.742%
5.125% Senior Unsecured Notes, due February 15, 2014
200,509
200,749
5.110%
5.125% Senior Unsecured Notes, due January 15, 2015
149,717
149,625
5.297%
5.800% Senior Unsecured Notes, due January 15, 2016
200,313
200,389
5.806%
7.750% Senior Unsecured Notes, due August 15, 2019
248,372
248,158
8.017%
       
Total Senior Unsecured Notes
$1,119,267
$1,118,451
 
       
(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)   These notes were paid at maturity, primarily from borrowing on the Company's unsecured revolving credit facility.

On December 15, 2010, the Company redeemed $300 million principal amount of its 7.75 percent senior unsecured notes due February 15, 2011.  The redemption price, including a make-whole premium, was 101.225 percent of the principal amount of the notes, plus accrued and unpaid interest up to the redemption date.  The Company funded the redemption price, including accrued and unpaid interest, of approximately $311.4 million from borrowing on its unsecured revolving credit facility, as well as cash on hand.  In connection with the redemption, the Company recorded approximately $3.8 million as a loss from early extinguishment of debt in 2010.