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Debt
6 Months Ended
Jun. 30, 2015
Debt Instruments [Abstract]  
DEBT
DEBT
In connection with the acquisition of San Antonio Center in January 2015, we assumed a mortgage loan with a face amount of $18.7 million and a fair value of $19.3 million. The mortgage loan bears interest at 5.27% and matures on January 1, 2016.
On March 16, 2015, we issued $200.0 million aggregate principal amount of 4.50% senior unsecured notes due December 1, 2044. The notes were offered at 105.38% of the principal amount with a yield to maturity of 4.18%. The notes have the same terms and are of the same series as the $250.0 million senior notes issued on November 14, 2014. Our net proceeds from the March note offering after issuance premium, underwriting fees and other costs were $208.6 million. The proceeds were used on April 11, 2015 to repay our $200.0 million 6.20% notes prior to the original maturity date of January 15, 2017. The redemption price of $222.2 million included a make-whole premium of $19.2 million and accrued but unpaid interest of $3.0 million. The make-whole premium is included in "early extinguishment of debt" in the three and six months ended June 30, 2015.
During 2015 the maximum amount of borrowings outstanding under our $600.0 million revolving credit facility was $173.5 million and the weighted average interest rate, before amortization of debt fees, was 1.1%. During the three and six months ended June 30, 2015, the weighted average borrowings outstanding were $118.5 million and $79.3 million, respectively. At June 30, 2015, the outstanding balance was $106.5 million. Our revolving credit facility, term loan and certain notes require us to comply with various financial covenants, including the maintenance of minimum shareholders’ equity and debt coverage ratios and a maximum ratio of debt to net worth. As of June 30, 2015, we were in compliance with all debt covenants.