Debt (Tables)

6 Months Ended

Jun. 30, 2019

The following table summarizes the Company’s senior unsecured notes payoffs during the year ended December 31, 2018 (dollars in thousands):

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(1)

The Company recorded a $44 million loss on debt extinguishment related to the repurchase of senior notes.

The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at June 30, 2019 (in thousands):



Year	Bank Line of Credit⁽¹⁾		Term Loan			Senior Unsecured Notes⁽²⁾			Mortgage Debt⁽³⁾		Total⁽⁴⁾
2019 (six months)	$	—	$	—		$	—		$	1,456	$	1,456
2020	—		—			800,000			3,046		803,046
2021	—		—			—			10,679		10,679
2022	—		—			900,000			2,694		902,694
2023	530,004		—			800,000			2,826		1,332,830
Thereafter	—		250,000			2,800,000			134,279		3,184,279
	530,004		250,000			5,300,000			154,980		6,234,984
(Discounts), premium and debt costs, net	—		(1,179		)	(37,306		)	6,849		(31,636		)
	530,004		248,821			5,262,694			161,829		6,203,348
Debt on assets held for sale⁽⁵⁾	—		—			—			28,404		28,404
	$	530,004	$	248,821		$	5,262,694		$	190,233	$	6,231,752

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(1)	Includes £55 million translated into USD.


(2)	Effective interest rates on the notes ranged from 2.79% to 6.87% with a weighted average effective interest rate of 4.03% and a weighted average maturity of five years. After completing the senior unsecured notes transactions in July 2019 (see discussion above), the senior unsecured notes had a weighted average effective interest rate of 4.07% and a weighted average maturity of seven years.


(3)	Excluding mortgage debt on assets held for sale, effective interest rates on the mortgage debt ranged from 2.52% to 5.91% with a weighted average effective interest rate of 4.13% and a weighted average maturity of 14 years.


(4)	Excludes $87 million of other debt that have no scheduled maturities.

(5)

Represents mortgage debt on assets held for sale with an interest rate of 3.45% and maturity in 2044.