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Market Risk Related to Fixed and Variable Rate Debt
−Removed: As of September 30, 2023, we had $2.9 billion of outstanding consolidated indebtedness (inclusive of net unamortized debt discounts, premiums and issuance costs of $25.6 million).
+Added: As of March 31, 2024, we had $3.2 billion of outstanding consolidated indebtedness (inclusive of net unamortized debt discounts, premiums and issuance costs of $15.8 million).
In addition, we were party to various consolidated interest rate hedge agreements totaling $975.0 million with maturities over various terms through 2026.
−Removed: Reflecting the effects of these hedge agreements, our fixed and variable rate debt would have been $2.6 billion (93%) and $211.6 million (7%), respectively, of our total consolidated indebtedness as of September 30, 2023.
−Removed: As of September 30, 2023, we had $269.6 million of fixed rate debt scheduled to mature within the next 12 months.
−Removed: A 100-basis point change in interest rates on this debt as of September 30, 2023 would change our annual cash flow by $2.7 million.
−Removed: A 100-basis point change in interest rates on our unhedged variable rate debt as of September 30, 2023 would change our annual cash flow by $2.1 million.
+Added: Reflecting the effects of these hedge agreements, our fixed and variable rate debt would have been $3.0 billion (95%) and $171.4 million (5%), respectively, of our total consolidated indebtedness as of March 31, 2024.
+Added: As of March 31, 2024, we had $619.6 million of fixed rate debt scheduled to mature within the next 12 months.
+Added: A 100-basis point change in interest rates on this debt as of March 31, 2024 would change our annual cash flow by $6.2 million.
+Added: A 100-basis point change in interest rates on our unhedged variable rate debt as of March 31, 2024 would change our annual cash flow by $1.7 million.
Based upon the terms of our variable rate debt, we are most vulnerable to a change in short-term Secured Overnight Financing Rate (“SOFR”) interest rates.
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.