| Senior Unsecured Notes |
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6.
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SENIOR UNSECURED NOTES
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A summary of the Company's senior unsecured notes as of March 31, 2012 and December 31, 2011 is as follows: (dollars in thousands)
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March 31,
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December 31,
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Effective
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2012
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2011
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Rate (1)
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5.250% Senior Unsecured Notes, due January 15, 2012 (2)
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--
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$ 99,988
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5.457%
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6.150% Senior Unsecured Notes, due December 15, 2012 (3)
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$ 94,561
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94,438
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6.894%
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5.820% Senior Unsecured Notes, due March 15, 2013 (3)
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26,000
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25,972
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6.448%
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4.600% Senior Unsecured Notes, due June 15, 2013
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99,965
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99,958
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4.742%
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5.125% Senior Unsecured Notes, due February 15, 2014
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200,450
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200,509
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5.110%
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5.125% Senior Unsecured Notes, due January 15, 2015
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149,740
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149,717
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5.297%
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5.800% Senior Unsecured Notes, due January 15, 2016
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200,294
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200,313
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5.806%
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7.750% Senior Unsecured Notes, due August 15, 2019
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248,425
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248,372
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8.017%
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Total Senior Unsecured Notes
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$1,019,435
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$1,119,267
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(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.
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(2) These notes were paid at maturity, primarily from borrowing on the Company's unsecured revolving credit facility.
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(3) On April 25, 2012, the Company gave notice that it will redeem these notes on May 25, 2012 using cash on hand and borrowings from its unsecured revolving credit facility.
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On April 19, 2012, the Operating Partnership completed the sale of $300 million face amount of 4.50 percent senior unsecured notes due April 18, 2022 with interest payable semi-annually in arrears. The net proceeds from the issuance of $296.8 million, after underwriting discount and offering expenses, were used primarily to repay outstanding borrowings under the Company's unsecured revolving credit facility and for general corporate purposes, which may include the purchase or retiring of some of our outstanding debt securities.
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