9 unchanged sentences
Therefore, to the extent our borrowing costs are not fixed, increases in interest rates may reduce our net income by increasing the cost of our debt without any corresponding increase in rents or cash flow from our securities.
−Removed: In the event that LIBOR is no longer available or in certain other circumstances as described in the borrowing agreements, the applicable borrowing agreements provide a mechanism for determining an alternative rate of interest.
+Added: If LIBOR is no longer available or in certain other circumstances as described in the borrowing agreements, the applicable borrowing agreements provide a mechanism for determining an alternative rate of interest.
There is no assurance that any such alternative, successor or replacement reference rate will be similar to, or produce the same value or economic equivalence of, LIBOR.
9 unchanged sentences
It also does not include a variety of other potential factors that could affect our business as a result of changes in interest rates.
−Removed: A hypothetical 100-basis point increase/decrease in interest rates on our leases subject to variable rental rates would increase/decrease the minimum contracted rentals in our portfolio as of March 31, 2020 by $4.0 million and $2.5 million , respectively, over the next twelve months.
−Removed: As of March 31, 2020 , a hypothetical 100-basis point increase/decrease in interest rates on our variable rate borrowings would result in an interest expense increase/decrease of $10.6 million and $9.7 million , respectively, net of amounts received from our interest rate derivatives, over the next twelve months.
+Added: A hypothetical 100-basis point increase/decrease in interest rates on our leases subject to variable rental rates would increase/decrease the minimum contracted rentals in our portfolio as of June 30, 2020 by $4.0 million and $1.5 million , respectively, over the next twelve months.
+Added: As of June 30, 2020 , a hypothetical 100-basis point increase/decrease in interest rates on our variable rate borrowings would result in an interest expense increase/decrease of $10.0 million and $3.3 million , respectively, net of amounts received from our interest rate derivatives, over the next twelve months.
We have an interest rate cap to hedge a portion of our floating rate interest exposure which is set at 2% and has a current notional balance of $235.0 million and reduces over time to $215.0 million.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.