1 unchanged sentence
All of our mortgage debt bears interest at fixed rates.
−Removed: Our junior subordinated notes bear interest at the rate of three-month LIBOR plus 200 basis points.
+Added: Our credit facility bears interest at 30 day term SOFR plus 250 basis points, with an interest rate floor of 6%.
+Added: At December 31, 2023, no amounts were drawn on the facility.
+Added: Our junior subordinated notes bear interest at the rate of three-month term SOFR plus 226 basis points.
At December 31, 2023, the interest rate on these notes was 7.65%.
−Removed: Our credit facility bears interest at the prime rate.
−Removed: A 100 basis point increase in the rate would result in an increase in interest expense in 2023 of $564,000 (of which $374,000 would be due to the change in rate on the junior subordinated notes) and a 100 basis point decrease in the rate would result in a $ 564,000 decrease (of which $374,000 would be due to the change in rate on the junior subordinated notes) in interest expense in 2023.
+Added: A 100 basis point increase in the rate would result in an increase in interest expense in 2023 of $374,000 (all of which would be due to the change in rate on the junior subordinated notes) and a 100 basis point decrease in the rate would result in a $374,000 decrease (all of which would be due to the change in rate on the junior subordinated notes) in interest expense in 2023.
Financial Statements and Supplementary Data.
3 unchanged sentences
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.