XML 42 R29.htm IDEA: XBRL DOCUMENT

UNSECURED SENIOR NOTES (Tables)

9 Months Ended

Sep. 30, 2020


	September 30,		December 31,		Effective		Issuance	Maturity
Unsecured Senior Notes	2020		2019		Interest Rate		Date	Date

	(in thousands)
$250M 4.800% Guaranteed Notes due 2022 ⁽¹⁾	$	250,000	$	250,000	4.82	%	Jun-12	Jul-22
$300M 4.375% Guaranteed Notes due 2023 ⁽²⁾		300,000		300,000	4.33	%	Various ⁽²⁾	Dec-23
$300M 4.000% Guaranteed Notes due 2025 ⁽³⁾		300,000		300,000	3.99	%	Various ⁽³⁾	Nov-25
$300M 3.125% Guaranteed Notes due 2026		300,000		300,000	3.18	%	Aug-16	Sep-26
$350M 4.375% Guaranteed Notes due 2029		350,000		350,000	4.46	%	Jan-19	Feb-29
$350M 3.000% Guaranteed Notes due 2030		350,000		350,000	3.04	%	Oct-19	Feb-30
Principal balance outstanding		1,850,000		1,850,000
Less: Discount on issuance of unsecured senior notes, net		(3,558)		(3,860)
Less: Loan procurement costs, net		(9,223)		(10,415)
Total unsecured senior notes, net	$	1,837,219	$	1,835,725

(1)

On October 30, 2020, the Operating Partnership redeemed, in full, its $250.0 million of outstanding 4.800% senior notes due 2022 with proceeds from its $450.0 million of 2.000% senior notes due 2031 issued on October 6, 2020 (see note 16).

(2)

On April 4, 2017, the Operating Partnership issued $50.0 million of its 4.375% senior notes due 2023, which are part of the same series as the $250.0 million principal amount of the Operating Partnership’s 4.375% senior notes due December 15, 2023 issued on December 17, 2013. The $50.0 million and $250.0 million tranches

were priced at 105.040% and 98.995%, respectively, of the principal amount to yield 3.495% and 4.501%, respectively, to maturity. The combined weighted average effective interest rate of the 2023 notes is 4.330%.

(3)

On April 4, 2017, the Operating Partnership issued $50.0 million of its 4.000% senior notes due 2025, which are part of the same series as the $250.0 million principal amount of the Operating Partnership’s 4.000% senior notes due November 15, 2025 issued on October 26, 2015. The $50.0 million and $250.0 million tranches were priced at 101.343% and 99.735%, respectively, of the principal amount to yield 3.811% and 4.032%, respectively, to maturity. The combined weighted average effective interest rate of the 2025 notes is 3.994%.