The following table summarizes the terms of Piedmont’s indebtedness outstanding as of June 30, 2014 and December 31, 2013 (in thousands):



Facility	Collateral	Rate⁽¹⁾			Maturity		Amount Outstanding as of
Facility	Collateral	Rate⁽¹⁾			Maturity		June 30, 2014		December 31, 2013
Secured (Fixed)
$200 Million Mortgage Note	Aon Center	4.87	%		5/1/2014		$	—	$	200,000
$25 Million Mortgage Note	Aon Center	5.70	%		5/1/2014		—		25,000
$350 Million Secured Pooled Facility	Nine Property Collateralized Pool ⁽²⁾	4.84	%		6/7/2014		—		350,000
$105 Million Fixed-Rate Loan	US Bancorp Center	5.29	%		5/11/2015		105,000		105,000
$125 Million Fixed-Rate Loan	Four Property Collateralized Pool ⁽³⁾	5.50	%		4/1/2016		125,000		125,000
$42.5 Million Fixed-Rate Loan	Las Colinas Corporate Center I & II	5.70	%		10/11/2016		42,525		42,525
$140 Million WDC Fixed-Rate Loans	1201 & 1225 Eye Street	5.76	%		11/1/2017		140,000		140,000
$35 Million Mortgage Note	5 Wall Street	5.55	%	⁽¹¹⁾	9/1/2021		37,152		—
Subtotal/Weighted Average ⁽⁴⁾		5.55	%				449,677		987,525
Unsecured (Variable and Fixed)
$300 Million Unsecured 2011 Term Loan		LIBOR + 1.45%		⁽⁵⁾	11/22/2016		300,000		300,000
$500 Million Unsecured Line of Credit		1.34	%	⁽⁶⁾	8/19/2016	⁽⁷⁾	312,000		366,000
$350 Million Unsecured Senior Notes		3.40	%	⁽⁸⁾	6/1/2023		348,741		348,680
$300 Million Unsecured 2013 Term Loan		LIBOR + 1.20%		⁽⁹⁾	1/31/2019		300,000		—
$400 Million Unsecured Senior Notes		4.45	%	⁽¹⁰⁾	3/15/2024		396,667		—
Subtotal/Weighted Average ⁽⁴⁾		2.94	%				1,657,408		1,014,680
Total/ Weighted Average ⁽⁴⁾		3.49	%				$	2,107,085	$	2,002,205


⁽¹⁾	All of Piedmont’s outstanding debt as of June 30, 2014 and December 31, 2013 was interest-only debt, except for the amortizing mortgage loan assumed in conjunction with the purchase of the 5 Wall Street building.


⁽²⁾	Nine property collateralized pool, which was repaid in full on March 7, 2014, included: 1200 Crown Colony Drive, Braker Pointe III, 2 Gatehall Drive, One and Two Independence Square, 2120 West End Avenue, 400 Bridgewater Crossing, 200 Bridgewater Crossing, and Fairway Center II.


⁽³⁾	Four property collateralized pool includes 1430 Enclave Parkway, Windy Point I and II, and 1055 East Colorado Boulevard.


⁽⁴⁾	Weighted average is based on contractual balance of outstanding debt and interest rates in the table as of June 30, 2014.


⁽⁵⁾	The $300 Million Unsecured 2011 Term Loan has a stated variable rate; however, Piedmont entered into interest rate swap agreements which effectively fix, absent any changes to Piedmont's credit rating, the rate on this facility to 2.69%.

⁽⁶⁾

Piedmont may select from multiple interest rate options with each draw, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread (1.175% as of June 30, 2014) over the selected rate based on Piedmont’s current credit rating. The outstanding balance as of June 30, 2014 consisted of 30-day LIBOR draws at a rate of 0.16% (subject to the additional spread mentioned above).


⁽⁷⁾	Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of August 21, 2017) provided Piedmont is not then in default and upon payment of extension fees.


⁽⁸⁾	The $350 Million Senior Notes have a fixed coupon rate of 3.40%, however, as a result of the issuance of the notes at a discount, Piedmont recognizes an effective interest rate on this debt issuance of 3.45%. After consideration of the impact of settled interest rate swap agreements, in addition to the issuance discount, the effective interest rate on this debt is 3.43%.


⁽⁹⁾	The $300 Million Unsecured 2013 Term Loan has a stated variable rate; however, Piedmont entered into interest rate swap agreements which effectively fix, absent any changes to Piedmont's credit rating, the rate for $200 million of the loan amount to 2.79% .


⁽¹⁰⁾	The $400 Million Senior Notes have a fixed coupon rate of 4.45%, however, as a result of the issuance of the notes at a discount, Piedmont recognizes an effective interest rate on this debt issuance of 4.48%. After consideration of the impact of settled interest rate swap agreements, in addition to the issuance discount, the effective interest rate on this debt is 4.10%.


⁽¹¹⁾	The $35 Million Mortgage Note has a fixed rate of 5.55%, however, upon acquiring the mortgage note, it was marked to estimated fair value resulting in an effective interest rate of 3.75%.