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SENIOR NOTES PAYABLE AND OTHER DEBT
 9 Months Ended
Sep. 30, 2022
Debt Disclosure [Abstract]  
SENIOR NOTES PAYABLE AND OTHER DEBT
NOTE 10—SENIOR NOTES PAYABLE AND OTHER DEBT

The following is a summary of our senior notes payable and other debt (dollars in thousands):
As of September 30, 2022As of December 31, 2021
Unsecured revolving credit facility (1)
$31,057 $56,448 
Commercial paper notes377,400 280,000 
Unsecured term loan due 2023— 200,000 
2.55% Senior Notes, Series D due 2023 (2)
198,901 217,667 
3.50% Senior Notes due 2024
400,000 400,000 
3.75% Senior Notes due 2024
400,000 400,000 
4.125% Senior Notes, Series B due 2024 (2)
180,819 197,879 
2.80% Senior Notes, Series E due 2024 (2)
433,965 474,909 
Unsecured term loan due 2025 (2)
361,637 395,757 
3.50% Senior Notes due 2025
600,000 600,000 
2.65% Senior Notes due 2025
450,000 450,000 
4.125% Senior Notes due 2026
500,000 500,000 
3.25% Senior Notes due 2026
450,000 450,000 
Unsecured term loan due 2027500,000 — 
2.45% Senior Notes, Series G due 2027 (2)
343,556 375,970 
3.85% Senior Notes due 2027
400,000 400,000 
4.00% Senior Notes due 2028
650,000 650,000 
4.40% Senior Notes due 2029
750,000 750,000 
3.00% Senior Notes due 2030
650,000 650,000 
4.75% Senior Notes due 2030
500,000 500,000 
2.50% Senior Notes due 2031
500,000 500,000 
3.30% Senior Notes, Series H due 2031 (2)
216,982 237,454 
6.90% Senior Notes due 2037 (3)
52,400 52,400 
6.59% Senior Notes due 2038 (3)
22,823 22,823 
5.70% Senior Notes due 2043
300,000 300,000 
4.375% Senior Notes due 2045
300,000 300,000 
4.875% Senior Notes due 2049
300,000 300,000 
Mortgage loans and other2,406,990 2,431,831 
Total12,276,530 12,093,138 
Deferred financing costs, net(65,663)(69,925)
Unamortized fair value adjustment25,745 32,888 
Unamortized discounts(25,628)(28,557)
Senior notes payable and other debt$12,210,984 $12,027,544 
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(1)As of September 30, 2022 and December 31, 2021, respectively, $10.8 million and $30.9 million of aggregate borrowings were denominated in Canadian dollars. Aggregate borrowings of $20.2 million and $25.6 million were denominated in British pounds as of September 30, 2022 and December 31, 2021, respectively.
(2)Canadian Dollar debt obligations shown in U.S. Dollars.
(3)Our 6.90% senior notes due 2037 are subject to repurchase at the option of the holders, at par, on October 1, 2027, and our 6.59% senior notes due 2038 are subject to repurchase at the option of the holders, at par, on July 7 in each of 2023 and 2028.
Credit Facilities, Commercial Paper and Unsecured Term Loans

We have a $2.75 billion unsecured revolving credit facility initially priced at LIBOR plus 0.825% based on the Company’s debt rating. The unsecured revolving credit facility matures in January 2025, but may be extended at our option, subject to the satisfaction of certain conditions, for two additional periods of six months each. The unsecured revolving credit facility also includes an accordion feature that permits us to increase our aggregate borrowing capacity thereunder to up to $3.75 billion, subject to the satisfaction of certain conditions, including the receipt of additional commitments for such increase.

As of September 30, 2022, we had $2.7 billion of undrawn capacity on our unsecured revolving credit facility with $31.1 million borrowings outstanding and an additional $15.6 million restricted to support outstanding letters of credit. We limit our use of the unsecured revolving credit facility, to the extent necessary, to support our commercial paper program when commercial paper notes are outstanding.

Our wholly owned subsidiary, Ventas Realty, Limited Partnership (“Ventas Realty”), may issue from time to time unsecured commercial paper notes up to a maximum aggregate amount outstanding at any time of $1.0 billion. The notes are sold under customary terms in the U.S. commercial paper note market and are ranked pari passu with all of Ventas Realty’s other unsecured senior indebtedness. The notes are fully and unconditionally guaranteed by Ventas, Inc. As of September 30, 2022, we had $377.4 million in borrowings outstanding under our commercial paper program.

In June 2022, we entered into a Credit and Guaranty Agreement (the “New Credit Agreement”) with Ventas Realty, as borrower. The New Credit Agreement replaces Ventas Realty’s previous $200.0 million unsecured term loan priced at LIBOR plus 0.90% that matured in 2023 with a new $500.0 million unsecured term loan that matures in 2027 and is initially priced at Term SOFR plus 0.95% based on Ventas Realty’s debt ratings. The New Credit Agreement also includes an accordion feature that permits us to increase our aggregate borrowings thereunder to up to $1.25 billion, subject to the satisfaction of certain conditions, including the receipt of additional commitments for such increase.

As of September 30, 2022, we had a C$500.0 million unsecured term loan facility priced at Canadian Dollar Offered Rate (“CDOR”) plus 0.90% that matures in 2025.

As of September 30, 2022, our indebtedness had the following maturities (dollars in thousands):
Principal Amount
Due at Maturity
Unsecured
Revolving Credit
Facility and Commercial Paper Notes (1)
Scheduled Periodic
Amortization		Total Maturities
2022$95,179 $377,400 $13,047 $485,626 
2023460,768 — 42,519 503,287 
20241,611,331 — 37,698 1,649,029 
20252,007,873 31,057 32,105 2,071,035 
20261,048,586 — 25,453 1,074,039 
Thereafter6,348,949 — 144,565 6,493,514 
Total maturities$11,572,686 $408,457 $295,387 $12,276,530 
______________________________
(1)At September 30, 2022, we had $263.3 million of borrowings outstanding under our unsecured revolving credit facility and commercial paper program, net of $145.1 million of unrestricted cash and cash equivalents.