3 unchanged sentences
Our primary market risk results from our indebtedness, which bears interest at both fixed and variable rates.
−Removed: As of September 30, 2022 , our indebtedness was approximately $189.1 million , consisting of approximately $156.0 million of variable-rate debt and approximately $33.1 million of fixed-rate debt.
−Removed: Of the $156.0 million variable-rate debt, $50.0 million relates to the 2021 Term Loan and $75.0 million relates to the 2022 Term Loan, which have been fixed through interest rate swaps.
−Removed: When factoring in the 2021 Term Loan and the 2022 Term Loan as fixed-rate debt through the interest rate swaps, as of September 30, 2022, approximately $31.0 million of our indebtedness was variable-rate debt and approximately $158.1 million was fixed-rate debt.
+Added: As of March 31, 2023 , our indebtedness was approximately $215.0 million , consisting of approximately $182.0 million of variable-rate debt and approximately $33.0 million of fixed-rate debt.
+Added: Of the $182.0 million variable-rate debt, $50.0 million relates to the 2021 Term Loan and $115.0 million relates to the 2022 Term Loan, which have been fixed through the Interest Rate Swaps.
+Added: When factoring in the Term Loans as fixed-rate debt through the Interest Rate Swaps, as of March 31, 2023, approximately $17.0 million of our indebtedness was variable-rate debt and approximately $198.0 million was fixed-rate debt.
Assuming no increase in the amount of our outstanding variable-rate indebtedness, if the one-month Adjusted Term SOFR were to increase or decrease by 1.0%, our cash flows would decrease or increase by approximately $0.2 million on an annualized basis.
−Removed: Subject to maintaining our status as a REIT for federal income tax purposes, we manage our market risk on variable rate debt through the use of interest rate swaps that fix the rate on all or a portion of our variable rate debt for varying periods up to maturity.
+Added: Subject to maintaining our status as a REIT for federal income tax purposes, we manage our market risk on variable rate debt through the use of interest rate swaps that fix the rate on all or a portion of our variable rate debt for varying periods up to maturity, such as the Interest Rate Swaps.
In the future, we may use other derivative instruments such as interest cap agreements to, in effect, cap the interest rate on all or a portion of the debt for varying periods up to maturity.
3 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.