5 unchanged sentences
Fixed Rate Debt
−Removed: At June 30, 2024, our outstanding fixed rate debt consisted of the following:
+Added: At September 30, 2024, our outstanding fixed rate debt consisted of the following:
Debt Principal
26 unchanged sentences
Although the U.S.
−Removed: Federal Reserve has indicated that it may lower interest rates in 2024, we cannot be sure that it will do so, and interest rates may remain at the current high levels or continue to increase.
−Removed: Based on the balances outstanding at June 30, 2024 and discounted cash flows analyses through the respective maturity dates, and assuming no other changes in factors that may affect the fair value of our fixed rate debt obligations, a hypothetical immediate one percentage point change in interest rates would change the fair value of those debt obligations by approximately $205,977.
+Added: Federal Reserve has recently lowered interest rates and indicated that it may further lower interest rates in 2024, we cannot be sure that it will do so, and interest rates may remain at the current levels or increase.
+Added: Based on the balances outstanding at September 30, 2024 and discounted cash flows analyses through the respective maturity dates, and assuming no other changes in factors that may affect the fair value of our fixed rate debt obligations, a hypothetical immediate one percentage point change in interest rates would change the fair value of those debt obligations by approximately $199,831.
Our fixed rate debt arrangements may allow us to make repayments earlier than the stated maturity date.
3 unchanged sentences
Floating Rate Debt
−Removed: At June 30, 2024, we had no amounts outstanding under our revolving credit facility.
+Added: At September 30, 2024, we had no amounts outstanding under our revolving credit facility.
The maturity date of our revolving credit facility is June 29, 2027, and, subject to our meeting certain conditions, including our payment of an extension fee, we have an option to extend the stated maturity date of the facility by two six-month periods.
6 unchanged sentences
Generally, a change in interest rates would not affect the value of this floating rate debt but would affect our operating results.
−Removed: The following table presents the impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at June 30, 2024 if we were fully drawn on our revolving credit facility:
+Added: The following table presents the impact a one percentage point increase in interest rates would have on our annual floating rate interest expense at September 30, 2024 if we were fully drawn on our revolving credit facility:
Impact of Increase in Interest Rates
3 unchanged sentences
Share Impact (2)
−Removed: At June 30, 2024 7.83 % $ 650,000 $ 50,895 $ 0.31
+Added: At September 30, 2024 7.46 % $ 650,000 $ 48,490 $ 0.29
One percentage point increase 8.46 % $ 650,000 $ 54,990 $ 0.33
−Removed: (1) Based on SOFR plus a premium, which was 250 basis points per annum, at June 30, 2024.
−Removed: (2) Based on diluted weighted average common shares outstanding for the six months ended June 30, 2024.
−Removed: The foregoing table shows the impact of an immediate change in floating interest rates as of June 30, 2024.
+Added: (1) Based on SOFR plus a premium, which was 250 basis points per annum, at September 30, 2024.
+Added: (2) Based on diluted weighted average common shares outstanding for the nine months ended September 30, 2024.
+Added: The foregoing table shows the impact of an immediate change in floating interest rates as of September 30, 2024.
If interest rates were to change gradually over time, the impact would be spread over time.
2 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.