Debt (Tables)

12 Months Ended

Dec. 31, 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
Year ended December 31, 2016:
February 1, 2016	$	500,000		3.750	%
September 15, 2016	$	400,000		6.300	%
November 30, 2016	$	500,000		6.000	%
November 30, 2016	$	600,000		6.700	%
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 December 31, 2016 (dollars in thousands):


					Senior Unsecured Notes(3)				Mortgage Debt(4)
	Line of						Interest				Interest
Year	Credit(1)		Term Loans(2)		Amount		Rate		Amount		Rate		Total(5)
2017	$	—	$	169,305	$	250,000	5.72	%	$	479,795	3.14	%	$	899,100
2018		899,718		—		—	—	%		3,641	—	%		903,359
2019		—		271,876		450,000	3.95	%		3,839	—	%		725,715
2020		—		—		800,000	2.81	%		3,907	5.11	%		803,907
2021		—		—		1,200,000	5.54	%		11,277	5.38	%		1,211,277
Thereafter		—		—		4,500,000	4.27	%		116,481	4.13	%		4,616,481
		899,718		441,181		7,200,000	4.34	%		618,940	3.40	%		9,159,839
Discounts and debt costs, net		—		(1,119)		(66,462)				4,852				(62,729)
	$	899,718	$	440,062	$	7,133,538			$	623,792			$	9,097,110

(1)

Includes £372 million translated into USD.

(2)

Represents £357 million translated into USD.

(3)

Interest rates on the notes ranged from 2.79% to 6.88% with a weighted average effective rate of 4.34% and a weighted average maturity of six years.

(4)

Interest rates on the mortgage debt ranged from 3.02% to 7.50% with a weighted average effective interest rate of 3.40% and a weighted average maturity of six years.

(5)

Excludes $92 million of other debt that represents Life Care Bonds and Demand Notes that have no scheduled maturities.