1 unchanged sentence
All of our mortgage debt is fixed rate, other than one mortgage, which is subject to an interest rate swap agreement that effectively fixes the interest rate.
−Removed: As of September 30, 2020, we had one interest rate swap agreement outstanding.
−Removed: The fair value of this derivative instrument is dependent upon existing market interest rates and swap spreads, which change over time.
−Removed: At September 30, 2020, if there had been (i) an increase of 100 basis points in forward interest rates, the fair market value of this derivative instruments and the net unrealized gain thereon would have increased by approximately $14,000 and (ii) if there had been a decrease of 100 basis points in forward interest rates, the fair market value of these derivatives and the net unrealized gain thereon would have decreased by approximately $14,000.
+Added: As of March 31, 2021, the fair value of this derivative instrument is dependent upon existing market interest rates and swap spreads, which change over time.
+Added: At March 31, 2021, if there had been (i) an increase of 100 basis points in forward interest rates, the fair market value of this derivative instruments and the net unrealized gain thereon would have increased by approximately $9,000 and (ii) if there had been a decrease of 100 basis points in forward interest rates, the fair market value of these derivatives and the net unrealized gain thereon would have decreased by approximately $9,000.
These changes would not have any impact on our net income or cash.
Our junior subordinated notes bear interest at the rate of three month LIBOR plus 200 basis points.
−Removed: At September 30, 2020, the interest rate on these notes was 2.27%.
+Added: At March 31, 2021, the interest rate on these notes was 2.21%.
A 100 basis point increase in the rate would increase our related interest expense by approximately $374,000 annually and a 100 basis point decrease in the rate would decrease our related interest expense by $71,000 annually.
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.