Indebtedness

12 Months Ended

Dec. 31, 2019

At December 31, 2019 and 2018, our outstanding indebtedness included the following (in thousands):


				December 31,
	Interest Rate at December 31, 2019		Maturity Date	2019		2018
Unsecured fixed rate debt
5.875% Senior Unsecured Notes due 2020	—	%	—	$	—	$	250,000

Secured fixed rate debt
206 East 9th Street	5.69	%	1/5/2021	$	25,433	$	26,000
				$	25,433	$	276,000
Unamortized net premiums, discounts and deferred financing fees				258		(1,045)
				$	25,691	$	274,955

Unsecured Revolving Credit Facility and Term Loan:

On May 4, 2018, we redeemed at par the total $400.0 million outstanding under our 5-year and 7-year term loans and recognized a loss on early extinguishment of debt of $1.5 million from the write off of unamortized deferred financing fees. Prior to the redemption of the term loans, borrowings under the 5-year term loan and 7-year term loan, subject to certain exceptions, had interest rates of LIBOR rate plus a margin of 90 to 180 basis points for the 5-year term loan and 140 to 235 basis points for the 7-year term loan, in each case depending on our credit rating.

On December 26, 2018, we terminated the credit agreement and recognized a loss on early extinguishment of debt of $0.2 million from the write off of unamortized deferred financing fees. We were required to pay a facility fee of 12.5 to 30 basis points, depending on our credit rating, on the borrowings available under the revolving credit facility, whether or not utilized.

Debt Covenants:

After the redemption of all $250.0 million of our 5.875% senior unsecured notes due 2020 on June 28, 2019, we no longer have any notes outstanding under our public debt indenture and related supplements, collectively the Indenture, and we are no longer required to maintain the financial ratio covenants prescribed in the Indenture. As a result, we are no longer rated by the debt rating agencies.

Senior Unsecured Notes:

On June 28, 2019, we redeemed all $250.0 million of our 5.875% senior unsecured notes due 2020 and recognized a loss on early extinguishment of debt of $6.4 million for the year ended December 31, 2019 from prepayment fees, the write off of unamortized deferred financing fees and the write off of an unamortized discount.

On March 7, 2018, we redeemed at par all $175.0 million of our 5.75% senior unsecured notes due 2042 and recognized a loss on early extinguishment of debt of $4.9 million from the write off of unamortized deferred financing fees.

On July 15, 2017, we redeemed at par $250.0 million of our 6.65% senior unsecured notes due 2018 and recognized a loss on early extinguishment of debt of $0.2 million for the year ended December 31, 2017 from the write off of unamortized deferred financing fees and the write off of an unamortized discount.

Mortgage Notes Payable:

At December 31, 2019, one of our properties with an aggregate net book value of $43.2 million had a secured mortgage note totaling $25.7 million (including a net premium and unamortized deferred financing fees) maturing in 2021.

In December 2018, we repaid $4.9 million of mortgage debt at 97 Newberry Road and recognized a loss on early extinguishment of debt of $0.6 million for the year ended December 31, 2018 from prepayment fees and the write off of unamortized deferred financing fees.

In December 2017, we repaid $2.0 million of mortgage debt at 33 Stiles Lane and recognized a loss on early extinguishment of debt of $0.2 million for the year ended December 31, 2017 from prepayment fees and the write off of unamortized deferred financing fees.

In April 2017, we repaid at par $41.3 million of mortgage debt at Parkshore Plaza and recognized a loss on early extinguishment of debt of $0.1 million for the year ended December 31, 2017 from prepayment fees and the write off of unamortized deferred financing fees, net of the write off of an unamortized premium.

Required Principal Payments:

The required principal payments due during the next five years and thereafter under our outstanding debt at December 31, 2019 are as follows (in thousands):


2020	$	597
2021	24,836
2022	—
2023	—
2024	—
Thereafter	—
	$	25,433