Debt (Tables)

9 Months Ended

Sep. 30, 2016

Summary of senior notes issuances (dollars in thousands)

The following table summarizes the Company’s senior unsecured notes issuances for the periods presented (dollars in thousands):


	Issuance
Period	Amount		Coupon Rate			Maturity Date		Net Proceeds
Year ended December 31, 2015:
January 21, 2015	$	600,000		3.400	%		2025	$	591,000
May 20, 2015	$	750,000		4.000	%		2025	$	739,000
December 1, 2015	$	600,000		4.000	%		2022	$	594,000

Summary of senior unsecured notes payoffs (dollars in thousands)

The following table summarizes the Company’s senior unsecured notes payoffs for the periods presented (dollars in thousands):


Period	Amount		Coupon Rate
Nine months ended September 30, 2016:
February 1, 2016	$	500,000		3.750	%
September 15, 2016	$	400,000		6.300	%
Year ended December 31, 2015:
March 1, 2015	$	200,000		6.000	%
June 8, 2015	$	200,000		7.072	%

Summary of stated debt maturities and scheduled principal repayments (in thousands)

The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at September 30, 2016 (in thousands):


					Senior
	Bank Line of				Unsecured		Mortgage
Year	Credit(1)		Term Loans(2)		Notes(3)		Debt(4)		Total(5)
2016 (three months)	$	—	$	—	$	—	$	30,626	$	30,626
2017		—		177,867		750,000		583,541		1,511,408
2018		1,372,032		—		600,000		8,290		1,980,322
2019		—		285,626		450,000		3,839		739,465
2020		—		—		800,000		3,907		803,907
Thereafter		—		—		5,700,000		127,758		5,827,758
		1,372,032		463,493		8,300,000		757,961		10,893,486
(Discounts), premiums and debt costs, net		—		(1,312)		(70,269)		4,754		(66,827)
	$	1,372,032	$	462,181	$	8,229,731	$	762,715	$	10,826,659

(1)

Includes £275 million ($357 million) translated into U.S. dollars (“USD”).

(2)

Represents £357 million translated into USD.

(3)

Effective interest rates on senior unsecured notes ranged from 2.79% to 6.88% with a weighted average effective interest rate of 4.63% and a weighted average maturity of six years.

(4)

Effective interest rates on the mortgage debt ranged from 3.05% to 8.20% with a weighted average effective interest rate of 5.79% and a weighted average maturity of five years.

(5)

Excludes $94 million of other debt that represents Life Care Bonds and Demand Notes (each as defined below) that have no scheduled maturities.