Annual report pursuant to Section 13 and 15(d)

Senior Unsecured Notes

v3.22.0.1
Senior Unsecured Notes
 12 Months Ended
Dec. 31, 2021
Debt Disclosure [Line Items]  
Senior Unsecured Notes 8.    SENIOR UNSECURED NOTES A summary of the Company’s senior unsecured notes as of December 31, 2021 and 2020 is as follows (dollars in thousands): December 31, December 31, Effective 2021 2020 Rate 4.500% Senior Unsecured Notes, due April 18, 2022 (1) $ - $ 300,000 -%3.150% Senior Unsecured Notes, due May 15, 2023 (1) - 275,000 -%Principal balance outstanding - 575,000 Adjustment for unamortized debt discount - (1,504) Unamortized deferred financing costs - (843) Total senior unsecured notes, net $ - $ 572,653 (1)On May 6, 2021, the Company retired these notes earlier than their maturity, using net sales proceeds from completed office property sales and borrowings under its 2021 credit facility and term loan. In conjunction with the notes being discharged, the Company incurred costs of $24.2 million (including a make-whole premium) which was expensed as loss from extinguishment of debt during the year ended December 31, 2021. See Note 9: Revolving Credit Facility and Term Loans.  
VERIS RESIDENTIAL, L.P. [Member]  
Debt Disclosure [Line Items]  
Senior Unsecured Notes 8.    SENIOR UNSECURED NOTES A summary of the Company’s senior unsecured notes as of December 31, 2021 and 2020 is as follows (dollars in thousands): December 31, December 31, Effective 2021 2020 Rate 4.500% Senior Unsecured Notes, due April 18, 2022 (1) $ - $ 300,000 -%3.150% Senior Unsecured Notes, due May 15, 2023 (1) - 275,000 -%Principal balance outstanding - 575,000 Adjustment for unamortized debt discount - (1,504) Unamortized deferred financing costs - (843) Total senior unsecured notes, net $ - $ 572,653 (1)On May 6, 2021, the Company retired these notes earlier than their maturity, using net sales proceeds from completed office property sales and borrowings under its 2021 credit facility and term loan. In conjunction with the notes being discharged, the Company incurred costs of $24.2 million (including a make-whole premium) which was expensed as loss from extinguishment of debt during the year ended December 31, 2021. See Note 9: Revolving Credit Facility and Term Loans.