DEBT (Tables)

9 Months Ended

Sep. 30, 2018

Long term debt, by type [Table Text Block]

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



	September 30, 2018			December 31, 2017
	(In thousands)
Unsecured bank credit facilities - variable rate, carrying amount	$	171,191		116,339
Unsecured bank credit facilities - fixed rate, carrying amount ^{(1) (2)}	—			80,000
Unamortized debt issuance costs	(1,930		)	(630	)
Unsecured bank credit facilities	169,261			195,709

Unsecured debt - fixed rate, carrying amount ⁽¹⁾	725,000			715,000
Unamortized debt issuance costs	(1,700		)	(1,939	)
Unsecured debt	723,300			713,061

Secured debt - fixed rate, carrying amount ⁽¹⁾	191,923			200,354
Unamortized debt issuance costs	(631		)	(842	)
Secured debt	191,292			199,512

Total debt	$	1,083,853		1,108,282


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


(2)	The Company had designated an interest rate swap to an $80 million unsecured bank credit facility draw that effectively fixed the interest rate on the $80 million draw to 2.020% through the interest rate swap's maturity date. This swap matured on August 15, 2018, and the $80 million draw has reverted to the variable interest rate associated with the Company's unsecured bank credit facilities.

Principal payments due during the next five years

Scheduled principal payments on long-term debt, including Unsecured debt and Secured debt (not including Unsecured bank credit facilities), as of September 30, 2018, are as follows:



Years Ending December 31,	(In thousands)
Remainder of 2018	$	2,882
2019	130,570
2020	114,096
2021	129,563
2022	107,769
2023 and beyond	432,043
Total	$	916,923