5 unchanged sentences
The table below presents principal, interest and related weighted average fair value interest rates by year of maturity, with respect to debt outstanding on December 31, 2020.
+Added: 2021 2022 2023 2024 2025 Thereafter Total Fair Value
(dollars in thousands)
Unsecured fixed rate debt (1)
+Added: Principal $ — $ 300,000 $ 250,000 $ — $ — $ 400,000 $ 950,000 $ 978,678
Interest payments $ 37,218 $ 37,218 $ 22,177 $ 17,995 $ 17,995 $ 80,775 $ 213,378
1 unchanged sentence
Unsecured variable rate debt
+Added: Principal $ — $ — $ 42,000 $ — $ — $ — $ 42,000 $ 42,000
Variable interest rate on debt maturities 1.1 % 1.1 %
−Removed: Mortgage note
−Removed: Principal amortization (2)
−Removed: (30 year schedule)
−Removed: Interest payments
−Removed: Weighted average interest rate on principal amortization
______________________________
−Removed: Includes $150.0 million and $250.0 million term loans with floating interest rates.
−Removed: The interest rates on the $150.0 million and $250.0 million term loans are effectively fixed by interest rate swap arrangements at 2.7% and 2.9%, respectively.
−Removed: Excludes net discounts of $1.5 million as of December 31, 2019 .
−Removed: The amount was prepaid in January 2020.
−Removed: We incurred a gain on extinguishment of debt of $0.5 million in association with this prepayment.
+Added: (1) Includes $250.0 million term loan with a floating interest rate.
+Added: The interest rate on the $250.0 million term loan is effectively fixed by interest rate swap arrangements at 2.9%.
We entered into the interest rate swap arrangements designated and qualifying as cash flow hedges to reduce our exposure to the variability in future cash flows attributable to changes in interest rates.
3 unchanged sentences
The following table sets forth information pertaining to interest rate swap contracts in place as of December 31, 2020 and 2019 and their respective fair values (dollars in thousands):
−Removed: Notional Amount
−Removed: Floating Index Rate
−Removed: Fair Value as of:
−Removed: Effective Date
−Removed: Expiration Date
−Removed: December 31, 2019
−Removed: December 31, 2018
+Added: Notional Amount Floating Index Rate Fair Value as of:
+Added: Fixed Rate Effective Date Expiration Date December 31, 2020 December 31, 2019
$ 75,000 1.619% One-Month USD-LIBOR 10/15/2015 3/15/2021 $ — $ (28)
10 unchanged sentences
50,000 1.718% One-Month USD-LIBOR 4/1/2020 4/1/2030 — 1,018
+Added: $ 600,000 $ (10,255) $ 1,823
+Added: In September 2020, in conjunction with the entry into the note purchase agreement to issue the Green Bonds, we terminated $200.0 million of four forward interest rate swap arrangements that we had entered into in November 2019 and which were effective as of
+Added: April 1, 2020, designated as cash flow hedges of the interest rate variability on the issuance of unsecured notes.
+Added: On October 2, 2020, we paid the $20.4 million liability associated with the termination of the forward swaps.
+Added: In December 2020, in connection with the prepayment of our 2015 Term Loan, we terminated two interest rate swap agreements with notional amounts in the aggregate of $150.0 million resulting in a loss on interest rate derivatives of approximately $0.6 million.
FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA
2 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.