DEBT

Unsecured bank credit facilities decreased $23,783,000 during the six months ended June 30, 2017, mainly due to repayments of $217,640,000 exceeding proceeds of $193,658,000 and the amortization of debt issuance costs during the period.

Unsecured debt increased $227,000 during the six months ended June 30, 2017, primarily due to the amortization of debt issuance costs.

Secured debt decreased $7,019,000 during the six months ended June 30, 2017. The decrease resulted from regularly scheduled principal payments of $7,098,000 and amortization of premiums on Secured debt, offset by the amortization of debt issuance costs during the period.

Properties encumbered by EastGroup's Secured debt were disclosed in the Company's Form 10-K for the year ended December 31, 2016. The following properties were encumbered by one of the Company's secured loans disclosed in the Form 10-K: Colorado Crossing, Interstate I-III, Rojas, Steele Creek 1 & 2, Stemmons Circle, Venture and World Houston 3-9. During the six months ended June 30, 2017, the Company closed a collateral release for Stemmons Circle. Subsequent to the collateral release, the Company sold Stemmons Circle.

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.



	June 30, 2017			December 31, 2016
	(In thousands)
Unsecured bank credit facilities - variable rate, carrying amount	$	88,038		112,020
Unsecured bank credit facilities - fixed rate, carrying amount ⁽¹⁾	80,000			80,000
Unamortized debt issuance costs	(831		)	(1,030	)
Unsecured bank credit facilities	167,207			190,990

Unsecured debt - fixed rate, carrying amount ⁽¹⁾	655,000			655,000
Unamortized debt issuance costs	(1,935		)	(2,162	)
Unsecured debt	653,065			652,838

Secured debt - fixed rate, carrying amount ⁽¹⁾	251,480			258,594
Unamortized debt issuance costs	(994		)	(1,089	)
Secured debt	250,486			257,505

Total debt	$	1,070,758		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 June 30, 2017, are as follows:



Years Ending December 31,	(In thousands)
Remainder of 2017	$	51,123
2018	61,316
2019	130,569
2020	114,096
2021	129,563
2022 and beyond	419,813
Total	$	906,480