DEBT

Unsecured bank credit facilities increased $8,315,000 during the three months ended March 31, 2017, mainly due to proceeds of $84,734,000 exceeding repayments of $76,518,000 and the amortization of debt issuance costs during the period.

Unsecured debt increased $112,000 during the three months ended March 31, 2017, primarily due to the amortization of debt issuance costs.

Secured debt decreased $3,519,000 during the three months ended March 31, 2017. The decrease resulted from regularly scheduled principal payments of $3,526,000 and amortization of premiums on Secured debt, offset by the amortization of debt issuance costs during the period.

The Company presents debt issuance costs as reductions of Secured debt, Unsecured debt and Unsecured bank credit facilities on the Consolidated Balance Sheets as detailed below.



	March 31, 2017			December 31, 2016
	(In thousands)
Unsecured bank credit facilities - variable rate, carrying amount	$	120,236		112,020
Unsecured bank credit facilities - fixed rate, carrying amount ⁽¹⁾	80,000			80,000
Unamortized debt issuance costs	(931		)	(1,030	)
Unsecured bank credit facilities	199,305			190,990

Unsecured debt - fixed rate, carrying amount ⁽¹⁾	655,000			655,000
Unamortized debt issuance costs	(2,050		)	(2,162	)
Unsecured debt	652,950			652,838

Secured debt - fixed rate, carrying amount ⁽¹⁾	255,060			258,594
Unamortized debt issuance costs	(1,074		)	(1,089	)
Secured debt	253,986			257,505

Total debt	$	1,106,241		1,101,333


(1)	These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps.

Scheduled principal payments on long-term debt, including Secured debt and Unsecured debt (not including Unsecured bank credit facilities), as of March 31, 2017 are as follows:



Years Ending December 31,	(In thousands)
Remainder of 2017	$	54,703
2018	61,316
2019	130,569
2020	114,096
2021	129,563
2022 and beyond	419,813
Total	$	910,060