| 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, 2018 |
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December 31, 2017 |
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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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3.875 |
% |
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December 2023 |
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$ |
250,000 |
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$ |
246,505 |
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$ |
250,000 |
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$ |
246,036 |
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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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|
247,677 |
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250,000 |
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|
247,410 |
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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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|
345,533 |
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350,000 |
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|
345,128 |
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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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296,469 |
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300,000 |
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296,182 |
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Mortgages payable: |
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Atlantic City (2)(3)
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5.14%-7.65% |
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November 2021- December 2026 |
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35,091 |
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37,211 |
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37,462 |
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39,879 |
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Southaven |
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LIBOR + 1.80% |
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April 2021 |
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51,400 |
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51,148 |
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60,000 |
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59,881 |
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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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323,416 |
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325,000 |
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322,975 |
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Unsecured lines of credit |
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LIBOR + 0.875% |
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October 2021 |
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203,100 |
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199,701 |
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208,100 |
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206,160 |
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$ |
1,764,591 |
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$ |
1,747,660 |
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$ |
1,780,562 |
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$ |
1,763,651 |
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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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(3) |
Principal and interest due monthly with remaining principal due at maturity. |
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| Schedule of Maturities of Long-term Debt |
Maturities of the existing long-term debt as of September 30, 2018 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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2018 |
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$ |
813 |
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2019 |
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3,369 |
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2020 |
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3,566 |
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2021 |
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585,293 |
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2022 |
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4,436 |
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Thereafter |
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1,167,114 |
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Subtotal |
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1,764,591 |
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Net discount and debt origination costs |
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(16,931 |
) |
Total |
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$ |
1,747,660 |
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