1 unchanged sentence
Our primary exposure to market risk results from our debt, which bears interest at both fixed and variable rates.
−Removed: We attempt to mitigate this risk by limiting our debt exposure in total and our maturities in any one year and weighting more towards fixed-rate debt in our portfolio.
−Removed: The fixed rate debt obligations limit the risk of fluctuating interest rates.
−Removed: As of December 31, 2021 and 2020, we had $1.7 billion of fixed rate debt outstanding at a weighted average interest rate of 3.95%.
+Added: We attempt to mitigate this risk primarily by limiting our debt exposure in total and our maturities in any one year and weighting more towards fixed-rate debt in our portfolio.
+Added: We also use derivative financial instruments such as cash flow hedges to effectively convert some of our variable rate debt to fixed rate debt.
+Added: These fixed rate debt obligations limit the risk of fluctuating interest rates.
+Added: On September 27, 2022, we entered into a floating-to-fixed interest rate swap with respect to the $350 million Term Loan through the maturity date of August 30, 2024.
+Added: This swap effectively fixed the underlying SOFR rate at 4.23%.
+Added: As of December 31, 2022 and 2021, we had $1.9 billion of fixed rate debt, including the Term Loan, outstanding at a weighted average interest rate of 4.40%.
At December 31, 2022, we had $456.6 million of variable rate debt outstanding, which consisted of the Credit Facility with $56.6 million outstanding at an interest rate of 5.30% and the $400.0 million 2022 Term Loan with an interest rate of 5.45%.
7 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.