A summary of the Company’s senior unsecured notes as of March 31, 2021 and December 31, 2020 is as follows (dollars in thousands):

(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 May 6, 2021, the Company retired these notes earlier than their maturity, using net sales proceeds from office property sales currently under contract and having been completed subsequent to March 31, 2021, and borrowings under its newly-signed credit facility and term loan.

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 under the indenture relating to its senior unsecured notes as of March 31, 2021.

On May 6, 2021, the Company delivered to the trustee under the indenture relating to its senior unsecured notes notices of redemption of both series of outstanding senior unsecured notes and deposited the full amount of the redemption payment through the June 6, 2021 redemption date with the trustee, thereby satisfying and discharging all of the senior unsecured notes as of May 6, 2021. In conjunction with the notes being discharged, the Company paid a make-whole premium of approximately $20 million to redeem these notes, which will be expensed during the second quarter of 2021.