8 unchanged sentences
2028 Term Loan January 2028 400,000 400,000 4.6% 4.6%
+Added: 2029 Term Loan February 2029 (2)
+Added: 450,000 — 4.3% —%
Senior unsecured notes July 2031 400,000 400,000 3.1% 3.1%
3 unchanged sentences
(1) Interest rates are presented after giving effect to our interest rate swap and lock agreements, where applicable.
−Removed: We have fixed the floating rates on borrowings under our term loan facilities by entering into interest rate swap agreements where we pay a fixed interest rate and receive a floating interest rate equal to the rate we pay on the respective loan.
+Added: (2) After giving effect to extension options exercisable at the Operating Partnership's election.
+Added: While our borrowings under the 2027 Term Loan, 2028 Term Loan and 2029 Term Loan are variable-rate, we have effectively fixed the interest rate under these term loans by entering into interest rate swap agreements where we pay a fixed interest rate and receive a floating interest rate equal to the rate we pay on the respective loan.
At December 31, 2023, our aggregate asset in the event of the early termination of our swaps was $7.7 million.
−Removed: At December 31, 2022, a 100-basis point increase of the interest rate on our unsecured term loan borrowings would increase our related interest costs by $10.3 million per year and a 100-basis point decrease of the interest rate would decrease our related interest costs by $10.3 million per year.
+Added: Our borrowings under the Revolving Credit Facility, if any, bear interest at a variable rate equal to 1-month SOFR plus a leverage-based credit spread.
+Added: Therefore, an increase or decrease in interest rates would result in an increase or decrease to our interest expense related to the Revolving Credit Facility.
We are exposed to interest rate risk between the time we enter into a sale-leaseback transaction, acquire a leased property or invest in a loan receivable and the time we finance the related asset with long-term fixed-rate debt.
16 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.