DEBT

Secured Debt decreased $73,061,000 during the nine months ended September 30, 2015. The decrease primarily resulted from the repayment of a mortgage loan with a balance of $57,450,000, regularly scheduled principal payments of $15,581,000 and mortgage loan premium amortization of $30,000.

Unsecured Debt increased $75,000,000 during the nine months ended September 30, 2015 as a result of the closing of a $75 million unsecured term loan in March 2015. The loan has a seven-year term and requires interest only payments. It bears interest at the annual rate of LIBOR plus an applicable margin (currently 1.4%) based on the Company's senior unsecured long-term debt rating. The Company also entered into an interest rate swap agreement to convert the loan's LIBOR rate component to a fixed interest rate for the entire term of the loan providing a total effective fixed interest rate of 3.031%. See note 13 for additional information on the Company's interest rate swaps.

Unsecured Bank Credit Facilities increased $43,745,000 during the nine months ended September 30, 2015. Until July 30, 2015, EastGroup had $225 million and $25 million unsecured bank credit facilities with margins over LIBOR of 117.5 basis points, facility fees of 22.5 basis points and maturity dates of January 5, 2017. The Company closed on amended credit facilities on July 30, 2015. The amended agreements expand the facilities to $300 million and $35 million, reduce the current applicable margins to 100 basis points and the current applicable facility fees to 20 basis points, and extend the maturity dates to July 30, 2019. The amended $300 million agreement contains an option for a one-year extension (at the Company's election) and a $150 million expansion (with agreement by both parties). The $35 million agreement contains a provision that the credit facility would automatically be extended for one year if the extension option in the $300 million facility is exercised.

Principal payments on long-term debt, including Secured Debt and Unsecured Debt (not including Unsecured Bank Credit Facilities), as of September 30, 2015 are as follows:



Years Ending December 31,	(In thousands)
Remainder of 2015	$	29,313
2016	92,807
2017	58,239
2018	141,316
2019	130,569
2020 and beyond	383,471