Secured and Unsecured Debt Financings

6 Months Ended

Jun. 30, 2020

The outstanding amounts of our secured and unsecured debt financings are as follows:



	At June 30, 2020						At December 31, 2019
Debt Obligation	Outstanding Borrowings			Number of Aircraft	Interest Rate	Final Stated Maturity	Outstanding Borrowings
Secured Debt Financings:
ECA Financings⁽¹⁾	$	45,443		2	3.49% to 3.96%	12/03/21 to 11/30/24	$	147,644
Bank Financings⁽²⁾	937,605			34	2.18% to 4.55%	06/17/23 to 01/19/26	993,593
Less: Debt issuance costs and discounts	(8,881		)	—			(11,892		)
Total secured debt financings, net of debt issuance costs and discounts	974,167			36			1,129,345

Unsecured Debt Financings:
Senior Notes due 2020⁽³⁾	—				7.625%	04/15/20	300,000
Senior Notes due 2021	500,000				5.125%	03/15/21	500,000
Senior Notes due 2022	500,000				5.50%	02/15/22	500,000
Senior 5.00% Notes due 2023	500,000				5.00%	04/01/23	500,000
Senior 4.40% Notes due 2023	650,000				4.40%	09/25/23	650,000
Senior Notes due 2024	500,000				4.125%	05/01/24	500,000
Senior Notes due 2026	650,000				4.250%	06/15/26	650,000
Unsecured Term Loans	215,000				1.78%	03/07/22 to 03/07/24	215,000
Revolving Credit Facilities	650,000				1.56% to 1.57%	12/27/21 to 06/27/22	150,000
Less: Debt issuance costs and discounts	(27,410		)				(32,509		)
Total unsecured debt financings, net of debt issuance costs and discounts	4,137,590						3,932,491
Total secured and unsecured debt financings, net of debt issuance costs and discounts	$	5,111,757					$	5,061,836


(1)	The borrowings under these financings at June 30, 2020 have a weighted-average rate of interest of 3.60%. During February 2020, the Company repaid the ECA Financings for four aircraft owned by the Air Knight VIEs, which were released as security for such financings during the second quarter of 2020 – see Note 6.


(2)	The borrowings under these financings at June 30, 2020 have a weighted-average fixed rate of interest of 3.21%.


(3)	Repaid on April 15, 2020.

At June 30, 2020, we had $650,000 outstanding under our revolving credit facilities and had $450,000 available for borrowing.

As of June 30, 2020, we were in compliance with all applicable covenants in our financings.