Debt (Tables)

3 Months Ended

Mar. 31, 2018

The following table presents a summary of our Senior Unsecured Credit Facility (dollars in thousands):



	Interest Rate at March 31, 2018 ^(a)	Maturity Date at March 31, 2018	Principal Outstanding Balance at
Senior Unsecured Credit Facility	Interest Rate at March 31, 2018 ^(a)	Maturity Date at March 31, 2018	March 31, 2018		December 31, 2017
Unsecured Revolving Credit Facility:
Unsecured Revolving Credit Facility — borrowing in U.S. dollars	LIBOR + 1.00%	2/22/2021	$	245,000	$	105,000
Unsecured Revolving Credit Facility — borrowing in euros ^(b)	EURIBOR + 1.00%	2/22/2021	22,424		111,775
			267,424		216,775
Unsecured Term Loans ^(c):
Term Loan — borrowing in euros ^(d)	N/A	N/A	—		283,425
Delayed Draw Term Loan — borrowing in euros	N/A	N/A	—		106,348
			—		389,773
			$	267,424	$	606,548

__________


(a)	The applicable interest rate at March 31, 2018 was based on the credit rating for our Unsecured Senior Notes of BBB/Baa2.


(b)	EURIBOR means Euro Interbank Offered Rate.


(c)	On March 7, 2018, we repaid and terminated our Unsecured Term Loans in full, as described above.


(d)	Balance excludes unamortized discount of $1.2 million and unamortized deferred financing costs of $0.2 million at December 31, 2017.

Schedule of Debt

The following table presents a summary of our Unsecured Senior Notes outstanding at March 31, 2018 (currency in millions):



						Original Issue Discount		Effective Interest Rate					Principal Outstanding Balance at
Unsecured Senior Notes, net ^(a)	Issue Date	Principal Amount		Price of Par Value		Original Issue Discount		Effective Interest Rate		Coupon Rate		Maturity Date	March 31, 2018		December 31, 2017
2.0% Senior Notes	1/21/2015	€	500.0	99.220	%	$	4.6	2.107	%	2.0	%	1/20/2023	$	616.1	$	599.7
4.6% Senior Notes	3/14/2014	$	500.0	99.639	%	$	1.8	4.645	%	4.6	%	4/1/2024	500.0		500.0
2.25% Senior Notes	1/19/2017	€	500.0	99.448	%	$	2.9	2.332	%	2.25	%	7/19/2024	616.1		599.7
4.0% Senior Notes	1/26/2015	$	450.0	99.372	%	$	2.8	4.077	%	4.0	%	2/1/2025	450.0		450.0
4.25% Senior Notes	9/12/2016	$	350.0	99.682	%	$	1.1	4.290	%	4.25	%	10/1/2026	350.0		350.0
2.125% Senior Notes	3/6/2018	€	500.0	99.324	%	$	4.2	2.208	%	2.125	%	4/15/2027	616.1		—
													$	3,148.3	$	2,499.4

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(a)	Aggregate balance excludes unamortized deferred financing costs totaling $18.5 million and $14.7 million, and unamortized discount totaling $13.8 million and $9.9 million, at March 31, 2018 and December 31, 2017, respectively.

Fiscal Year Maturity Schedule

Scheduled debt principal payments during the remainder of 2018, each of the next four calendar years following December 31, 2018, and thereafter through 2027 are as follows (in thousands):



Years Ending December 31,	Total ^(a)
2018 (remainder)	$	67,064
2019	94,959
2020	223,946
2021	428,955
2022	241,232
Thereafter through 2027	3,368,314
Total principal payments	4,424,470
Unamortized deferred financing costs	(19,553		)
Unamortized discount, net ^(b)	(15,786		)
Total	$	4,389,131

__________


(a)	Certain amounts are based on the applicable foreign currency exchange rate at March 31, 2018.


(b)	Represents the unamortized discount on the Unsecured Senior Notes of $13.8 million in aggregate and unamortized discount of $2.0 million in aggregate primarily resulting from the assumption of property-level debt in connection with both the CPA:15 Merger and the CPA:16 Merger (Note 1).