Debt Obligations (Tables)

9 Months Ended

Sep. 30, 2018

Debt Obligations

Schedule of Debt Obligations

The debt obligations by component as of September 30, 2018 and December 31, 2017 are as follows (dollar amounts in thousands):

		At September 30, 2018				At December 31, 2017
	Applicable			Available				Available
	Interest	Outstanding		for		Outstanding		for
Debt Obligations	Rate (1)	Balance		Borrowing		Balance		Borrowing
Bank borrowings (2)	3.38%	$	120,000	$	480,000	$	96,500	$	503,500
Senior unsecured notes, net of debt issue costs	4.49%		550,986		79,833		571,002		63,667
Total	4.29%	$	670,986	$	559,833	$	667,502	$	567,167

⁽¹⁾ Represents weighted average of interest rate as of September 30, 2018.  

⁽²⁾ Subsequent to September 30, 2018, we paid down $20,000 under our unsecured revolving line of credit. Accordingly, we have $100,000 outstanding under our unsecured revolving line of credit with $500,000 available for borrowing.

Schedule of borrowings and repayments

Our borrowings and repayments are as follows (in thousands):

	Nine months ended September 30,
	2018				2017
Debt Obligations		Borrowings		Repayments	Borrowings			Repayments
Bank borrowings	$	96,500	$	(73,000)	$	64,500		$	(116,600)
Senior unsecured notes		—		(20,166)		100,000	(1)		(19,167)
Total	$	96,500	$	(93,166)	$	164,500		$	(135,767)

⁽¹⁾ During 2017, we sold 15-year senior unsecured notes in the aggregate amount of $100,000 to a group of investors, which included Prudential, in a private placement transaction. The notes bear interest at an annual rate of 4.5%, have scheduled principal payments and mature on February 16, 2032.