| Schedule of senior unsecured notes and other related disclosures by scheduled maturity date |
The following table sets forth our senior unsecured notes and other related disclosures as of March 31, 2015 and December 31, 2014, respectively, by scheduled maturity date (dollars in thousands): | | | | | | | | | | | | | | | | | | | | | | | | Issuance | | March 31, 2015 Unpaid Principal Balance | | March 31, 2015 Accreted Balance | | December 31, 2014 Accreted Balance | | Coupon Rate(1) | | Effective Rate | | Term (in Years) | | Maturity Date | March 31, 2006(2) | | $ | 255,308 |
| | $ | 255,261 |
| | $ | 255,250 |
| | 6.00 | % | | 6.00 | % | | 10 | | March 31, 2016 | October 12, 2010(3) | | 345,000 |
| | 312,005 |
| | 309,069 |
| | 3.00 | % | | 3.00 | % | | 7 | | October 15, 2017 | August 5, 2011(4) | | 250,000 |
| | 249,760 |
| | 249,744 |
| | 5.00 | % | | 5.00 | % | | 7 | | August 15, 2018 | March 16, 2010(4) | | 250,000 |
| | 250,000 |
| | 250,000 |
| | 7.75 | % | | 7.75 | % | | 10 | | March 15, 2020 | November 15, 2012(4) | | 200,000 |
| | 200,000 |
| | 200,000 |
| | 4.50 | % | | 4.50 | % | | 10 | | December 1, 2022 | June 27, 2005(2)(5) | | 7 |
| | 7 |
| | 7 |
| | 4.00 | % | | 4.00 | % | | 20 | | June 15, 2025 | March 26, 2007(6) | | 10,008 |
| | 10,008 |
| | 10,008 |
| | 3.00 | % | | 3.00 | % | | 20 | | March 30, 2027 | | | $ | 1,310,323 |
| | $ | 1,277,041 |
| | $ | 1,274,078 |
| | | | | | | | |
| | (1) | Interest on the senior unsecured notes is payable semi-annually with principal and unpaid interest due on the scheduled maturity dates. |
| | (3) | Issued by the Operating Partnership. Interest on these exchangeable notes is payable semi-annually on April 15 and October 15. The notes had an initial exchange rate representing an exchange price that was set at a 30.0% premium to the last reported sale price of SL Green's common stock on October 6, 2010, or $85.81. The initial exchange rate is subject to adjustment under certain circumstances. The current exchange rate is 12.1632 shares of SL Green's common stock per $1,000 principal amount of these notes. The notes are senior unsecured obligations of the Operating Partnership and are exchangeable upon the occurrence of specified events and during the period beginning on the twenty-second scheduled trading day prior to the maturity date and ending on the second business day prior to the maturity date, into cash or a combination of cash and shares of SL Green's common stock, if any, at our option. As a result of meeting specified events (as defined in the Indenture Agreement), these notes became exchangeable commencing January 1, 2015 and will remain exchangeable through June 30, 2015. The notes are guaranteed by ROP. On the issuance date, $78.3 million of the debt balance was recorded in equity. As of March 31, 2015, $32.9 million remained to be amortized into the debt balance. |
| | (4) | Issued by the Company, the Operating Partnership and ROP, as co-obligors. |
| | (5) | Exchangeable senior debentures which are currently callable at par. In addition, the debentures can be put to ROP, at the option of the holder at par plus accrued and unpaid interest, on June 15, 2015 and 2020 and upon the occurrence of certain change of control transactions. As a result of the acquisition of all outstanding shares of common stock of Reckson, or the Reckson Merger, the adjusted exchange rate for the debentures is 7.7461 shares of SL Green's common stock per $1,000 of principal amount of debentures and the adjusted reference dividend for the debentures is $1.3491. In April 2015, we redeemed the remaining outstanding debentures. |
| | (6) | Issued by the Operating Partnership. Interest on these remaining exchangeable notes is payable semi-annually on March 30 and September 30. The notes have an initial exchange rate representing an exchange price that was set at a 25.0% premium to the last reported sale price of the Company's common stock on March 20, 2007, or $173.30. The initial exchange rate is subject to adjustment under certain circumstances. The current exchange rate is 5.7952 shares of SL Green's common stock per $1,000 principal amount of these notes. The notes are senior unsecured obligations of the Operating Partnership and are exchangeable upon the occurrence of specified events and during the period beginning on the twenty-second scheduled trading day prior to the maturity date and ending on the second business day prior to the maturity date, into cash or a combination of cash and shares of SL Green's common stock, if any, at our option. The notes are currently redeemable at the Operating Partnership’s option. The Operating Partnership may be required to repurchase the notes on March 30, 2017 and 2022, and upon the occurrence of certain designated events. |
|
| Schedule of combined aggregate principal maturities |
Combined aggregate principal maturities of mortgages and other loans payable, 2012 credit facility, trust preferred securities, senior unsecured notes and our share of joint venture debt as of March 31, 2015, including as-of-right extension options and put options, were as follows (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Scheduled Amortization | | Principal Repayments | | Revolving Credit Facility | | Unsecured Term Loan | | Trust Preferred Securities | | Senior Unsecured Notes | | Total | | Joint Venture Debt | Remaining 2015 | $ | 22,882 |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | — |
| | $ | 7 |
| (1) | $ | 22,889 |
| | $ | 39,407 |
| 2016 | 47,360 |
| | 100,311 |
| | — |
| | — |
| | — |
| | 255,308 |
| | 402,979 |
| | 534,026 |
| 2017 | 61,063 |
| | 895,329 |
| | — |
| | — |
| | — |
| | 355,008 |
| | 1,311,400 |
| | 582,755 |
| 2018 | 64,462 |
| | 16,000 |
| | — |
| | — |
| | — |
| | 250,000 |
| | 330,462 |
| | 2,196 |
| 2019 | 70,409 |
| | 28,317 |
| | — |
| | 833,000 |
| | — |
| | — |
| | 931,726 |
| | 104,688 |
| Thereafter | 200,403 |
| | 3,852,505 |
| | 520,000 |
| | — |
| | 100,000 |
| | 450,000 |
| | 5,122,908 |
| | 446,744 |
| | $ | 466,579 |
| | $ | 4,892,462 |
| | $ | 520,000 |
| | $ | 833,000 |
| | $ | 100,000 |
| | $ | 1,310,323 |
| | $ | 8,122,364 |
| | $ | 1,709,816 |
|
| | (1) | In April 2015, we redeemed the remaining outstanding 4.00% Exchangeable Senior Debentures due 2025. |
|