2 unchanged sentences
We are exposed to risks associated with market changes in interest rates through our borrowing arrangements and investments.
−Removed: In particular, our Credit Facility exposes us to variability in interest payments due to changes in LIBOR interest rates.
+Added: In particular, our Revolving Credit Facility exposes us to variability in interest payments due to changes in SOFR interest rates.
We manage our exposure to this market risk by monitoring available financing alternatives.
4 unchanged sentences
These prepayment rights may afford us opportunities to mitigate the risk of refinancing our debts at maturity at higher rates by refinancing prior to maturity.
−Removed: As of March 31, 2022, there was no outstanding debt under our Credit Facility.
−Removed: We have outstanding indebtedness under mortgage loans insured with HUD and one promissory note to third parties of $159.0 million all of which are at fixed interest rates.
−Removed: Subsequent to March 31, 2022, we entered into the Amended Credit Facility, with a revolving line of credit of up to $600.0 million in aggregate principal.
−Removed: The Amended Credit Facility amended the reference rate from LIBOR to SOFR.
−Removed: We have no outstanding debt under our Amended Credit Facility as of April 26, 2022.
−Removed: Our cash and cash equivalents as of March 31, 2022 consisted of bank term deposits, money market funds and U.S.
+Added: As of June 30, 2022, there was no outstanding debt under our Amended Credit Facility.
+Added: We have outstanding indebtedness under mortgage loans insured with HUD and two promissory notes to third parties of $158.3 million all of which are at fixed interest rates.
+Added: On April 8, 2022, we entered into the Amended Credit Agreement, with a revolving line of credit of up to $600.0 million in aggregate principal amount.
+Added: The Amended Credit Agreement amended the reference for borrowings under the Revolving Credit Facility rate from LIBOR to SOFR.
+Added: We have no outstanding borrowings under our Amended Credit Facility as of July 27, 2022.
+Added: Our cash and cash equivalents as of June 30, 2022 consisted of bank term deposits, money market funds and U.S.
Treasury bill related investments.
−Removed: In addition, as of March 31, 2022, we held debt security investments of approximately $50.1 million which were split between AA, A, and BBB rated securities.
−Removed: We believe our debt security investments that were in an unrealized loss position as of March 31, 2022 were not other-than-temporarily impaired, nor has any event occurred subsequent to that date that would indicate any other-than-temporary impairment.
+Added: In addition, as of June 30, 2022, we held debt security investments of approximately $49.1 million which were split between AA, A, and BBB rated securities.
+Added: We believe our debt security investments that were in an unrealized loss position as of June 30, 2022 were not other-than-temporarily impaired, nor has any event occurred subsequent to that date that would indicate any other-than-temporary impairment.
Our market risk exposure is interest income sensitivity, which is affected by changes in the general level of U.S.
3 unchanged sentences
Accordingly, we would not expect our operating results or cash flows to be affected to any significant degree by the effect of a sudden change in market interest rates on our securities portfolio.
−Removed: The above only incorporates those exposures that exist as of March 31, 2022 and does not consider those exposures or positions which could arise after that date.
+Added: The above only incorporates those exposures that exist as of June 30, 2022 and does not consider those exposures or positions which could arise after that date.
If we diversify our investment portfolio into securities and other investment alternatives, we may face increased risk and exposures as a result of interest risk and the securities markets in general.
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.