| 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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March 31, 2020 |
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December 31, 2019 |
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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 |
|
3.875 |
% |
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December 2023 |
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$ |
250,000 |
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$ |
247,471 |
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|
$ |
250,000 |
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$ |
247,308 |
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Senior notes |
|
3.750 |
% |
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December 2024 |
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250,000 |
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|
248,218 |
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250,000 |
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|
248,127 |
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Senior notes |
|
3.125 |
% |
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September 2026 |
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350,000 |
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|
346,354 |
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350,000 |
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|
346,215 |
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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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297,050 |
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300,000 |
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296,953 |
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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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30,037 |
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31,559 |
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|
30,909 |
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32,531 |
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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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|
51,297 |
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|
51,400 |
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|
51,272 |
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Unsecured term loan |
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LIBOR |
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+ |
1.00% |
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April 2024 |
|
350,000 |
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|
347,531 |
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|
350,000 |
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|
347,367 |
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Unsecured lines of credit |
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LIBOR |
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+ |
1.00% |
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October 2021 |
|
599,830 |
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|
598,074 |
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— |
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— |
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$ |
2,181,267 |
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$ |
2,167,554 |
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$ |
1,582,309 |
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$ |
1,569,773 |
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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 March 31, 2020 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 2020 |
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$ |
2,694 |
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2021 |
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657,023 |
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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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2024 |
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605,140 |
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Thereafter |
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657,206 |
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Subtotal |
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2,181,267 |
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Net discount and debt origination costs |
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(13,713 |
) |
Total |
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$ |
2,167,554 |
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