7 unchanged sentences
See Note 7 to the consolidated financial statements for additional details related to our outstanding derivatives.
−Removed: As of March 31, 2021, 5% of our outstanding consolidated debt, excluding the amount of variable rate debt with interest rate protection agreements in place, had variable interest rates and therefore was subject to market fluctuations.
+Added: As of June 30, 2021, 4% of our outstanding consolidated debt, excluding the amount of variable rate debt with interest rate protection agreements in place, had variable interest rates and therefore was subject to market fluctuations.
A change in the LIBOR index of 100 basis points would result in an increase or decrease of approximately $514,000 in interest expense on an annual basis.
5 unchanged sentences
As the Company no longer has a split rating between the rating agencies the pricing over LIBOR for the lines of credit, term loan and facility fee will increase to 1.20%, 1.25% and .25%, respectively, effective May 1, 2021.
−Removed: As of March 31, 2021, there were no outstanding balances under our unsecured lines of credit.
+Added: As of June 30, 2021, there were no outstanding balances under our unsecured lines of credit.
If additional decreases to our credit ratings occurs, interest expense could increase depending upon the level of downgrade.
2 unchanged sentences
The estimated fair value and recorded value of our debt consisting of senior unsecured notes, unsecured term loans, secured mortgages and unsecured lines of credit were as follows (in thousands):
−Removed: March 31, 2021 December 31, 2020
+Added: June 30, 2021 December 31, 2020
Fair value of debt $ 1,458,569 $ 1,639,803
Recorded value of debt $ 1,368,602 $ 1,567,886
−Removed: A 100 basis point increase from prevailing interest rates at March 31, 2021 and December 31, 2020 would result in a decrease in fair value of total consolidated debt of approximately $54.1 million and $55.8 million, respectively.
+Added: A 100 basis point increase from prevailing interest rates at June 30, 2021 and December 31, 2020 would result in a decrease in fair value of total consolidated debt of approximately $48.7 million and $55.8 million, respectively.
Refer to Note 8 to the consolidated financial statements for a description of our methodology in calculating the estimated fair value of debt.
8 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.