The following table summarizes the terms of Piedmont’s indebtedness outstanding as of September 30, 2017 and December 31, 2016 (in thousands):



Facility ⁽¹⁾	Stated Rate		Effective Rate ⁽²⁾			Maturity		Amount Outstanding as of
Facility ⁽¹⁾	Stated Rate		Effective Rate ⁽²⁾			Maturity		September 30, 2017		December 31, 2016
Secured (Fixed)
$140 Million WDC Fixed-Rate Loans	5.76	%	5.76	%		11/1/2017		$	—	$	140,000
$35 Million Fixed-Rate Loan ⁽³⁾	5.55	%	3.75	%		9/1/2021		30,903		31,583
$160 Million Fixed-Rate Loan ⁽⁴⁾	3.48	%	3.58	%		7/5/2022		160,000		160,000
Net premium and unamortized debt issuance costs								1,020		1,161
Subtotal/Weighted Average ⁽⁵⁾	3.82	%						191,923		332,744
Unsecured (Variable and Fixed)
$170 Million Unsecured 2015 Term Loan ⁽⁶⁾	LIBOR + 1.125%		2.37	%		5/15/2018		170,000		170,000
$300 Million Unsecured 2013 Term Loan	LIBOR + 1.20%		2.78	%	⁽⁷⁾	1/31/2019		300,000		300,000
$500 Million Unsecured 2015 Line of Credit ⁽⁶⁾	LIBOR + 1.00%		—	%		6/18/2019	⁽⁸⁾	—		178,000
$300 Million Unsecured 2011 Term Loan	LIBOR + 1.15%		3.35	%	⁽⁷⁾	1/15/2020		300,000		300,000
$350 Million Senior Notes	3.40	%	3.43	%		6/01/2023		350,000		350,000
$400 Million Senior Notes	4.45	%	4.10	%		3/15/2024		400,000		400,000
Discounts and unamortized debt issuance costs								(8,337)		(10,269)
Subtotal/Weighted Average ⁽⁵⁾	3.43	%						1,511,663		1,687,731
Total/Weighted Average ⁽⁵⁾	3.47	%						$	1,703,586	$	2,020,475


⁽¹⁾	Other than the $35 Million Fixed-Rate Loan, all of Piedmont’s outstanding debt as of September 30, 2017 and December 31, 2016 is interest-only.


⁽²⁾	Effective rate after consideration of settled or in-place interest rate swap agreements, issuance premiums/discounts, and/or fair market value adjustments upon assumption of debt.


⁽³⁾	Collateralized by the 5 Wall Street building in Burlington, Massachusetts.


⁽⁴⁾	Collateralized by the 1901 Market Street building in Philadelphia, Pennsylvania.


⁽⁵⁾	Weighted average is based on contractual balance of outstanding debt and the stated or effectively fixed interest rates in the table as of September 30, 2017.


⁽⁶⁾	On a periodic basis, Piedmont may select from multiple interest rate options, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread over the selected rate based on Piedmont’s current credit rating.


⁽⁷⁾	Facility has a stated variable rate; however, Piedmont has entered into interest rate swap agreements which effectively fix, exclusive of Piedmont's credit rating, the rate shown as the effective rate.


⁽⁸⁾	Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of June 18, 2020) provided Piedmont is not then in default and upon payment of extension fees.