| 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, 2019 |
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December 31, 2018 |
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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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$ |
247,145 |
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$ |
250,000 |
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$ |
246,664 |
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Senior notes |
|
3.750 |
% |
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December 2024 |
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250,000 |
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|
248,035 |
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250,000 |
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|
247,765 |
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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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|
346,079 |
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350,000 |
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|
345,669 |
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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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296,856 |
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300,000 |
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296,565 |
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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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31,769 |
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33,491 |
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34,279 |
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|
36,298 |
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Southaven |
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LIBOR |
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+ |
1.80% |
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April 2021 |
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51,400 |
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|
51,247 |
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|
51,400 |
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|
51,173 |
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Unsecured term loan |
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LIBOR |
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+ |
0.90% |
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April 2024 |
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350,000 |
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|
347,253 |
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|
350,000 |
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|
346,799 |
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Unsecured lines of credit |
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LIBOR |
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+ |
0.875% |
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October 2021 |
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4,100 |
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|
1,817 |
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145,100 |
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141,985 |
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$ |
1,587,269 |
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$ |
1,571,923 |
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$ |
1,730,779 |
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$ |
1,712,918 |
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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, 2019 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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For the remainder of 2019 |
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$ |
860 |
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2020 |
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3,566 |
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2021 |
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61,293 |
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2022 |
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4,436 |
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2023 |
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254,768 |
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Thereafter |
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1,262,346 |
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Subtotal |
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1,587,269 |
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Net discount and debt origination costs |
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(15,346 |
) |
Total |
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$ |
1,571,923 |
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