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Debt
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Debt Debt
The Company’s outstanding indebtedness as of March 31, 2022 and December 31, 2021 was as follows (in thousands):
March 31, 2022December 31, 2021
IndebtednessStated Maturity DateContractual Interest Rate
Effective Interest Rate as of March 31, 2022
Carrying AmountEstimated Fair ValueCarrying AmountEstimated Fair Value
2013 Mortgage Loans
Senior note
5/20233.81%4.14%$165,719 $165,720 $167,545 $170,503 
Mezzanine A
5/20237.38%7.55%70,000 70,000 70,000 70,875 
Mezzanine B
5/202311.50%11.75%32,000 32,080 32,000 32,560 
Total 2013 Mortgage Loans
267,719 267,800 269,545 273,938 
Chile Mortgages(12)
2022 - 20294.01%4.01%10,443 10,443 9,761 9,761 
Senior Unsecured Notes
Series A Notes
1/20264.68%4.77%200,000 204,000 200,000 217,500 
Series B Notes
1/20294.86%4.92%400,000 415,000 400,000 454,000 
Series C Notes
1/20304.10%4.15%350,000 350,000 350,000 385,000 
Series D Notes(5)
1/20311.62%1.67%442,680 392,879 454,800 441,724 
Series E Notes(6)
1/20331.65%1.70%387,345 338,927 397,950 388,499 
Total Senior Unsecured Notes
1,780,025 1,700,806 1,802,750 1,886,723 
2020 Senior Unsecured Term Loan Tranche A-1(1)
3/2025
L+0.95%
1.69%174,875 174,001 175,000 173,688 
2020 Senior Unsecured Term Loan Tranche A-2(2)(4)
3/2025
C+0.95%
2.03%200,000 199,000 197,800 196,811 
Total 2020 Senior Unsecured Term Loan A Facility
374,875 373,001 372,800 370,499 
2020 Senior Unsecured Revolving Credit Facility-1(2)(3)(7)
3/2024
C+0.85%
2.22%43,973 43,973 43,516 43,407 
2020 Senior Unsecured Revolving Credit Facility-2(3)(8)(9)
3/2024
SONIA+0.85%
2.02%89,995 89,995 92,694 92,462 
2020 Senior Unsecured Revolving Credit Facility-3(1)(3)
3/2024
L+0.85%
1.75%320,000 320,000 205,000 204,488 
2020 Senior Unsecured Revolving Credit Facility-4(3)(10)(11)
3/2024
BBSW+0.85%
1.36%59,856 59,856 58,104 57,959 
Total 2020 Senior Unsecured Revolving Credit Facility$513,824 $513,824 $399,314 $398,316 
Total principal amount of indebtedness$2,946,886 $2,865,874 $2,854,170 $2,939,237 
Less: unamortized deferred financing costs
(10,492)n/a(11,050)n/a
Total indebtedness, net of unamortized deferred financing costs
$2,936,394 $2,865,874 $2,843,120 $2,939,237 
(1) L = one-month LIBOR.
(2) C = one-month CDOR.
(3) The Company has the option to extend the 2020 Senior Unsecured Revolving Credit Facility up to two times for a six-month period each.
(4) The 2020 Senior Unsecured Term Loan Tranche A-2 is denominated in Canadian dollars and aggregates to CAD $250.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2022.
(5) The Senior Unsecured Notes Series D is denominated in Euros and aggregates to €400.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2022.
(6) The Senior Unsecured Notes Series E is denominated in Euros and aggregates to €350.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2022.
(7) The Senior Unsecured Revolving Credit Facility Draw 1 as of March 31, 2022, is denominated in CAD and aggregates to CAD $55.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2022.
(8) The Senior Unsecured Revolving Credit Facility Draw 2 as of March 31, 2022, is denominated in GBP and aggregates to GBP £68.5 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2022.
(9) SONIA = Sterling Overnight Interbank Average Rate.
(10) BBSW = Bank Bill Swap Rate
(11) The Senior Unsecured Revolving Credit Facility Draw 4 as of March 31, 2022, is denominated in AUD and aggregates to AUD 80.0 million. The carrying value in the table above is the US dollar equivalent as of March 31, 2022.
(12) The Chile Mortgages have varying maturities and interest rates. The above aggregates these given the immaterial balance of each individually.
There have been no new debt agreements entered into during 2022. Refer to our 2021 Form 10-K and below for details regarding our debt instruments.
Debt Covenants

Our Senior Unsecured Credit Facilities, the Senior Unsecured Notes and 2013 Mortgage Loans all require financial statement reporting, periodic reporting of compliance with financial covenants, other established thresholds and performance measurements, and compliance with affirmative and negative covenants that govern our allowable business practices. The affirmative and negative covenants include, among others, continuation of insurance, maintenance of collateral (in the case of the 2013 Mortgage Loans), the maintenance of REIT status, and restrictions on our ability to enter into certain types of transactions or take on certain exposures. As of March 31, 2022, we were in compliance with all debt covenants.
Loss on debt extinguishment, modifications and termination of derivative instruments
In the first quarter of 2021, the Company repaid $200 million of principal on the Senior Unsecured Term Loan A Facility and recorded $2.9 million to “Loss on debt extinguishment, modifications and termination of derivative instruments” in the accompanying Condensed Consolidated Statements of Operations, representing the write-off of unamortized deferred financing costs. Additionally, the Company recorded a reclassification from other comprehensive income to earnings to “Loss on debt extinguishment, modification, and termination of derivative instruments” related to the amortization of the portion deferred following the termination of interest rate swaps related to the Senior Unsecured Term Loan A Facility for $0.8 million and $0.6 million during the three months ended March 31, 2021 and 2022, respectively.