5 unchanged sentences
Fixed Rate Debt
−Removed: At June 30, 2021, our outstanding fixed rate debt consisted of the following mortgage notes:
+Added: At September 30, 2021, our outstanding fixed rate debt consisted of the following mortgage notes:
Annual Annual Interest
10 unchanged sentences
Increases in market interest rates decrease the fair value of our fixed rate debt, while decreases in market interest rates increase the fair value of our fixed rate debt.
−Removed: Based on the balance outstanding at June 30, 2021 and discounted cash flow analyses through the maturity date, and assuming no other changes in factors that may affect the fair value of our fixed rate debt obligation, a hypothetical immediate one percentage point change in the interest rates would change the fair value of this obligation by approximately $45,729.
+Added: Based on the balance outstanding at September 30, 2021 and discounted cash flow analyses through the maturity date, and assuming no other changes in factors that may affect the fair value of our fixed rate debt obligation, a hypothetical immediate one percentage point change in the interest rates would change the fair value of this obligation by approximately $44,108.
Floating Rate Debt
−Removed: At June 30, 2021, our floating rate debt consisted of $244,000 outstanding under our revolving credit facility.
+Added: At September 30, 2021, our floating rate debt consisted of $354,000 outstanding under our revolving credit facility.
Our revolving credit facility matures on December 29, 2021 and, subject to the payment of extension fees and satisfaction of other conditions, we have the option to extend the maturity date for two, six month periods.
5 unchanged sentences
In addition, upon renewal or refinancing of this obligation, we are vulnerable to increases in interest rate premiums due to market conditions or our perceived credit risk.
−Removed: Generally, a change in interest rates would not affect the value of our floating rate debt but would affect our operating results.
−Removed: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at June 30, 2021:
+Added: Generally, a change in interest rates would not affect the value
+Added: of our floating rate debt but would affect our operating results.
+Added: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at September 30, 2021:
Impact of an Increase in Interest Rates
2 unchanged sentences
Per Year Debt Per Year Share Impact (1)
−Removed: At June 30, 2021 1.40 % $ 244,000 $ 3,416 $ (0.05)
+Added: At September 30, 2021 1.39 % $ 354,000 $ 4,921 $ (0.08)
One percentage point increase 2.39 % $ 354,000 $ 8,461 $ (0.13)
−Removed: (1) Based on the diluted weighted average common shares outstanding for the six months ended June 30, 2021.
−Removed: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at June 30, 2021 if we were fully drawn on our revolving credit facility:
+Added: (1) Based on the diluted weighted average common shares outstanding for the nine months ended September 30, 2021.
+Added: The following table presents the approximate impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at September 30, 2021 if we were fully drawn on our revolving credit facility:
Impact of an Increase in Interest Rates
2 unchanged sentences
Per Year Debt Per Year Share Impact (1)
−Removed: At June 30, 2021 1.40 % $ 750,000 $ 10,500 $ (0.16)
+Added: At September 30, 2021 1.39 % $ 750,000 $ 10,425 $ (0.16)
One percentage point increase 2.39 % $ 750,000 $ 17,925 $ (0.28)
−Removed: (1) Based on the diluted weighted average common shares outstanding for the six months ended June 30, 2021.
+Added: (1) Based on the diluted weighted average common shares outstanding for the nine months ended September 30, 2021.
The foregoing tables show the impact of an immediate one percentage point change in floating interest rates.
7 unchanged sentences
Despite our current expectations, we cannot be sure that, if LIBOR is phased out or transitioned, the changes to the determination of interest under our agreements would approximate the current calculation in accordance with LIBOR.
−Removed: We do not know what standard, if any, will replace LIBOR if it is phased out or transitioned.
+Added: We cannot be certain of what standard, if any, will replace LIBOR if it is phased out or transitioned.
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.