| Schedule of Debt |
The debt of the Operating Partnership consisted of the following (in thousands):
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As of |
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As of |
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September 30, 2017 |
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December 31, 2016 |
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Stated Interest Rate(s) |
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Maturity Date |
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Principal |
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Book Value(1)
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Principal |
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Book Value(1)
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Senior, unsecured notes: |
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Senior notes |
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6.125 |
% |
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June 2020 |
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$ |
— |
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$ |
— |
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$ |
300,000 |
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$ |
298,226 |
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Senior notes |
|
3.875 |
% |
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December 2023 |
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250,000 |
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|
245,882 |
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250,000 |
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|
245,425 |
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Senior notes |
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3.750 |
% |
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December 2024 |
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250,000 |
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|
247,321 |
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250,000 |
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|
247,058 |
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Senior notes |
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3.125 |
% |
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September 2026 |
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350,000 |
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|
344,993 |
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350,000 |
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|
344,600 |
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Senior notes |
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3.875 |
% |
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July 2027 |
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300,000 |
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295,985 |
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— |
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— |
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Mortgages payable: |
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Atlantic City (2)
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5.14%-7.65% |
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November 2021- December 2026 |
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38,230 |
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40,747 |
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40,471 |
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|
43,286 |
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Foxwoods |
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LIBOR + 1.55% |
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December 2017 |
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70,250 |
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70,174 |
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70,250 |
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69,902 |
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Southaven |
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LIBOR + 1.75% |
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April 2018 |
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60,000 |
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59,855 |
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59,277 |
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|
58,957 |
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Unsecured term loan |
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LIBOR + 0.95% |
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April 2021 |
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325,000 |
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323,011 |
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325,000 |
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|
322,410 |
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Unsecured lines of credit |
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LIBOR + 0.90% |
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October 2019 |
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148,200 |
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|
146,013 |
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61,000 |
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|
58,002 |
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$ |
1,791,680 |
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$ |
1,773,981 |
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$ |
1,705,998 |
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$ |
1,687,866 |
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(1) |
Including premiums and net of debt discount and debt origination costs. |
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(2) |
The effective interest rate assigned during the purchase price allocation to the Atlantic City mortgages assumed during the acquisition in 2011 was 5.05%.
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| Schedule of Maturities of Long-term Debt |
Maturities of the existing long-term debt as of September 30, 2017 for the next five years and thereafter are as follows (in thousands):
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Calendar Year |
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Amount |
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2017 |
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$ |
71,017 |
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2018 |
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63,183 |
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2019 |
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151,569 |
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2020 |
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3,566 |
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2021 |
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330,793 |
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Thereafter |
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1,171,552 |
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Subtotal |
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1,791,680 |
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Net discount and debt origination costs |
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(17,699 |
) |
Total |
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$ |
1,773,981 |
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