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Unsecured Senior Notes
 9 Months Ended
Sep. 30, 2020
Debt Disclosure [Abstract]  
Debt Disclosure
6. Unsecured Senior Notes
The following summarizes the unsecured senior notes outstanding as of September 30, 2020 (dollars in thousands): 
Coupon/
Stated Rate		Effective
Rate(1)		Principal
Amount		Maturity Date(2)
10 Year Unsecured Senior Notes4.125 %4.289 %$850,000 May 15, 2021
11 Year Unsecured Senior Notes3.850 %3.954 %1,000,000 February 1, 2023
10.5 Year Unsecured Senior Notes3.125 %3.279 %500,000 September 1, 2023
10.5 Year Unsecured Senior Notes3.800 %3.916 %700,000 February 1, 2024
7 Year Unsecured Senior Notes3.200 %3.350 %850,000 January 15, 2025
10 Year Unsecured Senior Notes3.650 %3.766 %1,000,000 February 1, 2026
10 Year Unsecured Senior Notes2.750 %3.495 %1,000,000 October 1, 2026
10 Year Unsecured Senior Notes4.500 %4.628 %1,000,000 December 1, 2028
10 Year Unsecured Senior Notes3.400 %3.505 %850,000 June 21, 2029
10.5 Year Unsecured Senior Notes2.900 %2.984 %700,000 March 15, 2030
10.75 Year Unsecured Senior Notes3.250 %3.343 %1,250,000 January 30, 2031
Total principal9,700,000 
Net unamortized discount(16,880)
Deferred financing costs, net(46,723)
Total$9,636,397 
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(1)Yield on issuance date including the effects of discounts on the notes, settlements of interest rate contracts and the amortization of financing costs.
(2)No principal amounts are due prior to maturity.
On May 5, 2020, Boston Properties Limited Partnership completed a public offering of $1.25 billion in aggregate principal amount of its 3.250% unsecured senior notes due 2031. The notes were priced at 99.850% of the principal amount to yield an effective rate (including financing fees) of approximately 3.343% per annum to maturity. The notes will mature on January 30, 2031, unless earlier redeemed. The aggregate net proceeds from the offering were approximately $1.24 billion after deducting underwriting discounts and transaction expenses.
The indenture relating to the unsecured senior notes contains certain financial restrictions and requirements, including (1) a leverage ratio not to exceed 60%, (2) a secured debt leverage ratio not to exceed 50%, (3) an interest coverage ratio of greater than 1.50, and (4) an unencumbered asset value of not less than 150% of unsecured debt. At September 30, 2020, Boston Properties Limited Partnership was in compliance with each of these financial restrictions and requirements.