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Debt Schedule of Long-term Debt Instruments (Details)
$ in Thousands, CAD in Millions
12 Months Ended
Dec. 14, 2016
USD ($)
Apr. 24, 2015
USD ($)
Apr. 21, 2014
USD ($)
properties
Mar. 03, 2011
USD ($)
Dec. 31, 2016
USD ($)
properties
years
CAD / $
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2016
CAD
properties
CAD / $
Nov. 02, 2016
properties
Aug. 22, 2016
USD ($)
Feb. 18, 2016
properties
Mar. 16, 2015
USD ($)
Feb. 28, 2014
CAD
CAD / $
Jun. 18, 2013
USD ($)
Aug. 08, 2012
USD ($)
Jun. 30, 2010
USD ($)
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         11     11 14   1          
Notes assumed       $ 3,800                        
Estimated market rate used for determining discounted cash flow for fixed rate notes       5.29%                        
Long-term Debt, by Maturity [Abstract]                                
2017         $ 163,266                      
2018         11,684                      
2019         0                      
2020         600,000                      
2021         0                      
Thereafter         1,739,995                      
Total         2,485,625 $ 1,981,920                    
Deferred financing costs, net         (29,320) (18,289)                    
Interest Expense, Debt [Abstract]                                
Amortization of deferred financing costs         4,787 4,588 $ 4,248                  
Credit facility and letter of credit fees         1,873 1,759 1,735                  
Interest costs capitalized         (10,697) (18,547) (7,525)                  
Interest expense, net         97,144 79,915 81,270                  
Costs associated with loan refinancing or payoff         905 270 301                  
Segment, Continuing Operations [Member]                                
Interest Expense, Debt [Abstract]                                
Interest on loans and capital lease obligation         101,181 92,140 82,839                  
Amortization of deferred financing costs         4,787 4,588 4,248                  
Interest income         $ 0 (25) $ (27)                  
Mortgage notes payable [Member] | Mortgage note payable, 7.37%, paid in full on February 18, 2016                                
Debt Instrument [Line Items]                                
Interest rate         7.37%     7.37%                
Long-term Debt, by Maturity [Abstract]                                
Total [1]         $ 0 4,813                    
Mortgage notes payable [Member] | Note payable, 2.50%, paid in full on April 21, 2016                                
Debt Instrument [Line Items]                                
Interest rate         2.50%     2.50%                
Long-term Debt, by Maturity [Abstract]                                
Total [2]         $ 0 1,850                    
Mortgage notes payable [Member] | Mortgage notes payable, 6.37%, paid in full on May 2, 2016                                
Debt Instrument [Line Items]                                
Interest rate         6.37%     6.37%                
Long-term Debt, by Maturity [Abstract]                                
Total [3]         $ 0 24,754                    
Mortgage notes payable [Member] | Mortgage notes payable, 6.37%, paid in full on May 2, 2016 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         2     2                
Mortgage notes payable [Member] | Mortgage notes payable, 6.02%, paid in full on August 8, 2016                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         3     3                
Interest rate         6.02%     6.02%                
Long-term Debt, by Maturity [Abstract]                                
Total [4]         $ 0 16,738                    
Mortgage notes payable [Member] | Mortgage notes payable, 6.10%, paid in full on September 1, 2016                                
Debt Instrument [Line Items]                                
Interest rate [2]         6.10%     6.10%                
Long-term Debt, by Maturity [Abstract]                                
Total [5]         $ 0 22,235                    
Mortgage notes payable [Member] | Mortgage notes payable, 6.10%, paid in full on September 1, 2016 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         4     4                
Mortgage notes payable [Member] | Mortgage note payable, 6.06%, due March 1, 2017                                
Debt Instrument [Line Items]                                
Net book value of property         $ 8,200                      
Debt initial balance         $ 11,600                      
Monthly payment amortization schedule (in years) | years         25                      
Monthly principal and interest payments         $ 75                      
Final principal payment at maturity         $ 8,600                      
Interest rate [3]         6.06%     6.06%                
Long-term Debt, by Maturity [Abstract]                                
Total [6]         $ 8,615 9,381                    
Mortgage notes payable [Member] | Mortgage note payable, 6.06%, due March 1, 2017 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         1     1                
Mortgage notes payable [Member] | Mortgage note payable, 6.07%, due April 6, 2017                                
Debt Instrument [Line Items]                                
Net book value of property         $ 8,000                      
Debt initial balance         $ 11,900                      
Monthly payment amortization schedule (in years) | years         30                      
Monthly principal and interest payments         $ 77                      
Final principal payment at maturity         $ 9,200                      
Interest rate [5]         6.07%     6.07%                
Long-term Debt, by Maturity [Abstract]                                
Total [7]         $ 9,331 9,667                    
Mortgage notes payable [Member] | Mortgage note payable, 6.07%, due April 6, 2017 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         1     1                
Mortgage notes payable [Member] | Mortgage notes payable, 5.73%-5.95%, due May 1, 2017                                
Debt Instrument [Line Items]                                
Net book value of property         $ 32,400                      
Debt initial balance         $ 38,900                      
Monthly payment amortization schedule (in years) | years         25                      
Monthly principal and interest payments         $ 247                      
Final principal payment at maturity         $ 30,000                      
Weighted average interest rate         5.85%     5.85%                
Long-term Debt, by Maturity [Abstract]                                
Total [8]         $ 30,486 31,603                    
Mortgage notes payable [Member] | Mortgage notes payable, 5.73%-5.95%, due May 1, 2017 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         4     4                
Mortgage notes payable [Member] | Mortgage notes payable, 4.00%, due July 6, 2017                                
Debt Instrument [Line Items]                                
Net book value of property         $ 118,200                      
Debt initial balance     $ 90,300                          
Monthly payment amortization schedule (in years) | years         10                      
Monthly principal and interest payments         $ 635                      
Final principal payment at maturity         $ 85,100                      
Fair value of notes payable     $ 99,600                          
Estimated market rate used for determining discounted cash flow for fixed rate notes     0.00%                          
Interest rate [6]         4.00%     4.00%                
Long-term Debt, by Maturity [Abstract]                                
Total [9]         $ 88,629 93,616                    
Mortgage notes payable [Member] | Mortgage note payable, 5.29%, due July 8, 2017                                
Debt Instrument [Line Items]                                
Net book value of property         8,000                      
Monthly principal and interest payments         28                      
Final principal payment at maturity         $ 3,200                      
Fair value of notes payable       $ 4,100                        
Interest rate [7]         5.29%     5.29%                
Long-term Debt, by Maturity [Abstract]                                
Total [10]         $ 3,298 3,455                    
Mortgage notes payable [Member] | Mortgage note payable, 5.29%, due July 8, 2017 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         1     1                
Monthly payment amortization schedule (in years) | years         25                      
Mortgage notes payable [Member] | Mortgage notes payable, 5.86% due August 1, 2017                                
Debt Instrument [Line Items]                                
Net book value of property         $ 24,800                      
Debt initial balance         $ 28,000                      
Monthly payment amortization schedule (in years) | years         25                      
Monthly principal and interest payments         $ 178                      
Final principal payment at maturity         $ 21,700                      
Interest rate [7]         5.86%     5.86%                
Long-term Debt, by Maturity [Abstract]                                
Total [11]         $ 22,139 22,931                    
Mortgage notes payable [Member] | Mortgage notes payable, 5.86% due August 1, 2017 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         2     2                
Mortgage notes payable [Member] | Mortgage note payable, 6.19%, due February 1, 2018                                
Debt Instrument [Line Items]                                
Net book value of property         $ 18,900                      
Debt initial balance         $ 17,500                      
Monthly payment amortization schedule (in years) | years         20                      
Monthly principal and interest payments         $ 127                      
Final principal payment at maturity         $ 11,600                      
Interest rate [9]         6.19%     6.19%                
Long-term Debt, by Maturity [Abstract]                                
Total [12]         $ 12,452 13,171                    
Mortgage notes payable [Member] | Mortgage note payable, 6.19%, due February 1, 2018 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         1     1                
Mortgage notes payable [Member] | Unsecured revolving variable rate credit facility, LIBOR 1.25%, due April 24, 2019                                
Debt Instrument [Line Items]                                
Interest rate [10]         1.25%     1.25%                
Mortgage notes payable [Member] | Unsecured term loan payable, LIBOR 1.40%, $300,000 fixed through interest rate swaps at a blended rate of 3.09% through April 5, 2019, due April 24, 2020                                
Debt Instrument [Line Items]                                
Line of credit facility, current borrowing capacity   $ 285,000     $ 350,000                      
Line of credit facility, basis spread on variable rate   1.40%     1.40%                      
Debt Instrument, Interest Rate, Effective Percentage         2.17%     2.17%                
Long-term Debt, by Maturity [Abstract]                                
Total [13]         $ 350,000 350,000                    
Mortgage notes payable [Member] | Senior unsecured notes payable, 7.75%, due July 15, 2020                                
Debt Instrument [Line Items]                                
Interest rate [12]             7.75%                  
Mortgage notes payable [Member] | Senior unsecured notes payable, 5.75%, due August 15, 2022                                
Debt Instrument [Line Items]                                
Interest rate         5.75%     5.75%                
Mortgage notes payable [Member] | Senior unsecured notes payable, 4.35%, due August 22, 2024                                
Debt Instrument [Line Items]                                
Interest rate [13]         4.35%     4.35%                
Line of Credit [Member] | Unsecured revolving variable rate credit facility, LIBOR 1.25%, due April 24, 2019                                
Debt Instrument [Line Items]                                
Line of credit facility, current borrowing capacity   $ 535,000     $ 650,000                      
Line of credit facility, maximum borrowing capacity         $ 1,000,000                      
Line of credit facility, basis spread on variable rate   1.25%     1.25%                      
Debt Instrument, Interest Rate, Effective Percentage         2.02167%     2.02167%                
Line of credit facility, amount outstanding         $ 0                      
Line of Credit Facility, Remaining Borrowing Capacity         650,000                      
Long-term Debt, by Maturity [Abstract]                                
Total [14]         0 196,000                    
Interest Expense, Debt [Abstract]                                
Line of Credit Facility, Commitment Fee Percentage   0.25%                            
Costs associated with loan refinancing or payoff         $ 243                      
Line of Credit [Member] | Combined unsecured revolving credit and term loan facility [Member]                                
Debt Instrument [Line Items]                                
Line of credit facility, current borrowing capacity   $ 1,000,000                            
Line of credit facility, maximum borrowing capacity   $ 2,000,000                            
Line of Credit [Member] | Senior unsecured notes payable, 5.25%, due July 15, 2023                                
Debt Instrument [Line Items]                                
Interest rate [14]         5.25%     5.25%                
Senior unsecured notes payable [Member] | Senior unsecured notes payable, 7.75%, due July 15, 2020                                
Debt Instrument [Line Items]                                
Debt initial balance                               $ 250,000
Senior unsecured notes, interest rate         7.75%     7.75%                
Senior unsecured notes, percent of principal amount issued         0.9829     0.9829                
Debt covenant, debt to adjusted total assets ratio, maximum         0.6                      
Debt covenant, secured debt to adjusted total assets ratio, maximum         0.4                      
Debt covenant, debt service coverage ratio, minimum         1.5                      
Debt covenant, total unencumbered assets as a percent of outstanding unsecured debt, minimum         150.00%                      
Long-term Debt, by Maturity [Abstract]                                
Total [15]         $ 250,000 250,000                    
Senior unsecured notes payable [Member] | Senior unsecured notes payable, 5.75%, due August 15, 2022                                
Debt Instrument [Line Items]                                
Debt initial balance                             $ 350,000  
Senior unsecured notes, interest rate         5.75%     5.75%                
Senior unsecured notes, percent of principal amount issued         0.99998     0.99998                
Debt covenant, debt to adjusted total assets ratio, maximum         0.6                      
Debt covenant, secured debt to adjusted total assets ratio, maximum         0.4                      
Debt covenant, debt service coverage ratio, minimum         1.5                      
Debt covenant, total unencumbered assets as a percent of outstanding unsecured debt, minimum         150.00%                      
Long-term Debt, by Maturity [Abstract]                                
Total [16]         $ 350,000 350,000                    
Senior unsecured notes payable [Member] | Senior unsecured notes payable, 5.25%, due July 15, 2023                                
Debt Instrument [Line Items]                                
Debt initial balance                           $ 275,000    
Senior unsecured notes, interest rate         5.25%     5.25%                
Senior unsecured notes, percent of principal amount issued         0.99546     0.99546                
Debt covenant, debt to adjusted total assets ratio, maximum         0.6                      
Debt covenant, secured debt to adjusted total assets ratio, maximum         0.4                      
Debt covenant, debt service coverage ratio, minimum         1.5                      
Debt covenant, total unencumbered assets as a percent of outstanding unsecured debt, minimum         150.00%                      
Long-term Debt, by Maturity [Abstract]                                
Total [17]         $ 275,000 275,000                    
Senior unsecured notes payable [Member] | Senior unsecured notes payable, 4.35%, due August 22, 2024                                
Debt Instrument [Line Items]                                
Debt initial balance                   $ 148,000            
Senior unsecured notes, interest rate                   4.35%            
Long-term Debt, by Maturity [Abstract]                                
Total [18]         $ 148,000 0                    
Senior unsecured notes payable [Member] | Senior unsecured notes payable, 4.50%, due April 1, 2025                                
Debt Instrument [Line Items]                                
Debt initial balance                       $ 300,000        
Interest rate [15]         4.50%     4.50%                
Senior unsecured notes, interest rate         4.50%     4.50%                
Senior unsecured notes, percent of principal amount issued         0.99638     0.99638                
Debt covenant, debt to adjusted total assets ratio, maximum         0.6                      
Debt covenant, secured debt to adjusted total assets ratio, maximum         0.4                      
Debt covenant, debt service coverage ratio, minimum         0                      
Debt covenant, total unencumbered assets as a percent of outstanding unsecured debt, minimum         150.00%                      
Long-term Debt, by Maturity [Abstract]                                
Total [19]         $ 300,000 300,000                    
Senior unsecured notes payable [Member] | Senior unsecured notes payable, 4.56%, due August 22, 2026                                
Debt Instrument [Line Items]                                
Debt initial balance                   $ 192,000            
Interest rate [16]         4.56%     4.56%                
Senior unsecured notes, interest rate                   4.56%            
Long-term Debt, by Maturity [Abstract]                                
Total [20]         $ 192,000 0                    
Senior unsecured notes payable [Member] | Senior unsecured notes payable, 4.75%, due December 15, 2026                                
Debt Instrument [Line Items]                                
Debt initial balance $ 450,000                              
Interest rate [17]         4.75%     4.75%                
Senior unsecured notes, interest rate 4.75%                              
Senior unsecured notes, percent of principal amount issued 0.98429                              
Debt covenant, debt to adjusted total assets ratio, maximum 0.6                              
Debt covenant, secured debt to adjusted total assets ratio, maximum 0.4                              
Debt covenant, debt service coverage ratio, minimum 0                              
Debt covenant, total unencumbered assets as a percent of outstanding unsecured debt, minimum 150.00%                              
Long-term Debt, by Maturity [Abstract]                                
Total [21]         $ 450,000 0                    
Bond payable, variable rate [Member] | Bonds payable, variable rate, due October 1, 2037                                
Debt Instrument [Line Items]                                
Net book value of property         $ 21,800                      
Debt Instrument, Interest Rate, Effective Percentage         0.76%     0.76%                
Long-term Debt, by Maturity [Abstract]                                
Total [22]         $ 24,995 $ 24,995                    
Bond payable, variable rate [Member] | Bonds payable, variable rate, due October 1, 2037 | Theatre Properties Member                                
Debt Instrument [Line Items]                                
Number of properties securing debt | properties         3     3                
immaterial business acquisition [Member]                                
Debt Instrument [Line Items]                                
Number of properties acquired | properties     11                          
Minimum [Member] | Mortgage notes payable [Member] | Mortgage notes payable, 5.73%-5.95%, due May 1, 2017                                
Debt Instrument [Line Items]                                
Interest rate         5.73%     5.73%                
Minimum [Member] | Mortgage notes payable [Member] | Unsecured term loan payable, LIBOR 1.40%, $300,000 fixed through interest rate swaps at a blended rate of 3.09% through April 5, 2019, due April 24, 2020                                
Debt Instrument [Line Items]                                
Interest rate [11]             1.40%                  
Maximum [Member] | Mortgage notes payable [Member] | Mortgage notes payable, 5.73%-5.95%, due May 1, 2017                                
Debt Instrument [Line Items]                                
Interest rate         5.95%     5.95%                
Maximum [Member] | Mortgage notes payable [Member] | Unsecured term loan payable, LIBOR 1.40%, $300,000 fixed through interest rate swaps at a blended rate of 3.09% through April 5, 2019, due April 24, 2020                                
Debt Instrument [Line Items]                                
Interest rate [11]             3.09%                  
Canada, Dollars | Currency Forward Agreements Member | Net Investment Hedging [Member]                                
Debt Instrument [Line Items]                                
Derivative, Notional Amount | CAD               CAD 100.0         CAD 100.0      
Derivative, Forward Exchange Rate | CAD / $         1.06     1.06         1.13      
United States of America, Dollars | Currency Forward Agreements Member | Net Investment Hedging [Member]                                
Debt Instrument [Line Items]                                
Derivative, Notional Amount         $ 94,300               CAD 88.1      
Theatre Properties Member                                
Interest Expense, Debt [Abstract]                                
Costs associated with loan refinancing or payoff         $ 472                      
[1] The Company’s mortgage note payable was prepaid in full on February 18, 2016 prior to its maturity date of July 15, 2018. The note was secured by one theatre property. In connection with this note payoff, the Company paid $472 thousand in additional costs included in costs associated with loan refinancing or payoff.
[2] The Company’s note payable was paid in full on April 21, 2016.
[3] The Company’s mortgage notes payable were paid in full on May 2, 2016 prior to their maturity date of June 1, 2016. This notes were secured by two theatre properties.
[4] The Company’s mortgage notes payable were paid in full on August 8, 2016 prior to their maturity date of October 6, 2016. The notes were secured by three theatre properties.
[5] The Company’s mortgage notes payable were paid in full on September 1, 2016 prior to their maturity date of October 1, 2016. The notes were secured by four theatre properties.
[6] The Company’s mortgage note payable is secured by one theatre property, which had a net book value of approximately $8.2 million at December 31, 2016. The note had an initial balance of $11.6 million and the monthly payments are based on a 25-year amortization schedule. The note requires monthly principal and interest payments of approximately $75 thousand with a final principal payment at maturity of approximately $8.6 million. On February 1, 2017, this loan was prepaid in full.
[7] The Company’s mortgage note payable is secured by one theatre property, which had a net book value of approximately $8.0 million at December 31, 2016. The note had an initial balance of $11.9 million and the monthly payments are based on a 30-year amortization schedule. The note requires monthly principal and interest payments of approximately $77 thousand with a final principal payment at maturity of approximately $9.2 million. On January 6, 2017, this loan was prepaid in full.
[8] The Company’s mortgage notes payable are secured by four theatre properties, which had a net book value of approximately $32.4 million at December 31, 2016. The notes had initial balances totaling $38.9 million and the monthly payments are based on a 25-year amortization schedule. The notes require monthly principal and interest payments totaling approximately $247 thousand with a final principal payment at maturity totaling approximately $30.0 million. The weighted average interest rate on these notes is 5.85%.
[9] On April 21, 2014, the Company assumed a mortgage note payable of $90.3 million in conjunction with the acquisition of 11 theatre properties. The mortgage note was recorded at fair value upon acquisition which was estimated to be $99.6 million. The fair value of this mortgage note was determined by discounting the future cash flows of the mortgage note using an estimated acquisition date market rate of 4.00%. The mortgage note is secured by 11 theatre properties, which had a net book value of approximately $118.2 million at December 31, 2016. The monthly payments are based on a 10-year amortization schedule and the mortgage note requires monthly principal and interest payments of approximately $635 thousand with a final principal payment at maturity of approximately $85.1 million.
[10] On March 3, 2011, the Company assumed a mortgage note payable of $3.8 million in conjunction with the acquisition of a theatre property. The note was recorded at fair value upon acquisition which was estimated to be $4.1 million. The fair value of the note was determined by discounting the future cash flows of the note using an estimated acquisition date market rate of 5.29%. The note is secured by one theatre property, which had a net book value of approximately $8.0 million at December 31, 2016. The monthly payments are based on a 25-year amortization schedule and the note requires monthly principal and interest payments of approximately $28 thousand with a final principal payment at maturity of approximately $3.2 million.
[11] The Company’s mortgage notes payable due August 1, 2017 are secured by two theatre properties, which had a net book value of approximately $24.8 million at December 31, 2016. The notes had initial balances totaling $28.0 million and the monthly payments are based on a 25-year amortization schedule. The notes require monthly principal and interest payments totaling approximately $178 thousand with a final principal payment at maturity totaling approximately $21.7 million.
[12] The Company’s mortgage note payable due February 1, 2018 is secured by one theatre property which had a net book value of approximately $18.9 million at December 31, 2016. The mortgage loan had an initial balance of $17.5 million and the monthly payments are based on a 20-year amortization schedule. The note requires monthly principal and interest payments of approximately $127 thousand with a final principal payment at maturity of approximately $11.6 million.
[13] The Company's unsecured term loan payable bears interest at LIBOR plus 1.40%, which was 2.17% on December 31, 2016. Interest is payable monthly. On April 24, 2015, the Company amended, restated and combined its unsecured revolving credit and term loan facilities. The amendments to the unsecured term loan portion of the new facility, among other things, (i) increased the initial amount from $285.0 million to $350.0 million, (ii) extended the maturity date from July 23, 2018 to April 24, 2020 and (iii) lowered the interest rate at all senior unsecured credit rating tiers which was LIBOR plus 1.40% at closing. In addition, there is a $1.0 billion accordion feature on the combined unsecured revolving credit and term loan facility that increases the maximum borrowing amount available under the combined facility, subject to lender approval, from $1.0 billion to $2.0 billion.
[14] The Company's unsecured revolving credit facility (the facility) bears interest at LIBOR plus 1.25%, which was 2.02% on December 31, 2016. Interest is payable monthly. On April 24, 2015, the Company amended, restated and combined its unsecured revolving credit and term loan facilities. The amendments to the unsecured revolving portion of the new credit facility, among other things, (i) increased the initial amount from $535.0 million to $650.0 million, (ii) extended the maturity date from July 23, 2017, to April 24, 2019 (with the Company having the same right as before to extend the loan for one additional year, subject to certain terms and conditions) and (iii) lowered the interest rate and facility fee pricing based on a grid related to the Company's senior unsecured credit ratings which at closing was LIBOR plus 1.25% and 0.25%, respectively. In connection with the amendment, $243 thousand of deferred financing costs (net of accumulated amortization) were written off during the year ended December 31, 2015. As of December 31, 2016, the Company had no outstanding balance under the facility and total availability under the revolving credit facility was $650.0 million. In addition, there is a $1.0 billion accordion feature on the combined unsecured revolving credit and term loan facility that increases the maximum borrowing amount available under the combined facility, subject to lender approval, from $1.0 billion to $2.0 billion. The facility contains financial covenants or restrictions that limit the Company's levels of consolidated debt, secured debt, investment levels outside certain categories and dividend distributions, and require the Company to maintain a minimum consolidated tangible net worth and meet certain coverage levels for fixed charges and debt service.
[15] On June 30, 2010, the Company issued $250.0 million in senior unsecured notes due on July 15, 2020. The notes bear interest at 7.75%. Interest is payable on July 15 and January 15 of each year beginning on January 15, 2011 until the stated maturity date of July 15, 2020. The notes were issued at 98.29% of their principal amount and are guaranteed by certain of the Company’s subsidiaries. The notes contain various covenants, including: (i) a limitation on incurrence of any debt that would cause the ratio of the Company’s debt to adjusted total assets to exceed 60%; (ii) a limitation on incurrence of any secured debt which would cause the ratio of the Company’s secured debt to adjusted total assets to exceed 40%; (iii) a limitation on incurrence of any debt which would cause the Company’s debt service coverage ratio to be less than 1.5 times; and (iv) the maintenance at all times of total unencumbered assets not less than 150% of the Company’s outstanding unsecured debt.
[16] On August 8, 2012, the Company issued $350.0 million in senior unsecured notes due on August 15, 2022. The notes bear interest at 5.75%. Interest is payable on February 15 and August 15 of each year beginning on February 15, 2013 until the stated maturity date of August 15, 2022. The notes were issued at 99.998% of their principal amount and are guaranteed by certain of the Company’s subsidiaries. The notes contain various covenants, including: (i) a limitation on incurrence of any debt that would cause the ratio of the Company’s debt to adjusted total assets to exceed 60%; (ii) a limitation on incurrence of any secured debt which would cause the ratio of the Company’s secured debt to adjusted total assets to exceed 40%; (iii) a limitation on incurrence of any debt which would cause the Company’s debt service coverage ratio to be less than 1.5 times; and (iv) the maintenance at all times of total unencumbered assets not less than 150% of the Company’s outstanding unsecured debt.
[17] On June 18, 2013, the Company issued $275.0 million in senior unsecured notes due on July 15, 2023. The notes bear interest at 5.25%. Interest is payable on January 15 and July 15 of each year beginning on January 15, 2014 until the stated maturity date of July 15, 2023. The notes were issued at 99.546% of their principal amount and are guaranteed by certain of the Company’s subsidiaries. The notes contain various covenants, including: (i) a limitation on incurrence of any debt that would cause the ratio of the Company’s debt to adjusted total assets to exceed 60%; (ii) a limitation on incurrence of any secured debt which would cause the ratio of the Company’s secured debt to adjusted total assets to exceed 40%; (iii) a limitation on incurrence of any debt which would cause the Company’s debt service coverage ratio to be less than 1.5 times and (iv) the maintenance at all times of the Company's total unencumbered assets such that they are not less than 150% of the Company’s outstanding unsecured debt.
[18] On August 22, 2016, the Company issued $148.0 million of senior unsecured notes in a private placement transaction. The notes bear interest at an annual rate of 4.35% and are due August 22, 2024. The notes are guaranteed by the Company's subsidiaries that guarantee the Company's unsecured credit facilities and existing senior unsecured notes. The notes contain covenants similar to those found in the Company's unsecured revolving credit facility.
[19] On March 16, 2015, the Company issued $300.0 million in aggregate principal amount of senior notes due on April 1, 2025 pursuant to an underwritten public offering. The notes bear interest at an annual rate of 4.50%. Interest is payable on April 1 and October 1 of each year beginning on October 1, 2015 until the stated maturity date of April 1, 2025. The notes were issued at 99.638% of their face value and are unsecured and guaranteed by certain of the Company’s subsidiaries. The notes contain various covenants, including: (i) a limitation on incurrence of any debt which would cause the ratio of the Company’s debt to adjusted total assets to exceed 60%; (ii) a limitation on incurrence of any secured debt which would cause the ratio of the Company’s secured debt to adjusted total assets to exceed 40%; (iii) a limitation on incurrence of any debt which would cause the Company’s debt service coverage ratio to be less than 1.5 times and (iv) the maintenance at all times of the Company's total unencumbered assets such that they are not less than 150% of the Company’s outstanding unsecured debt.
[20] On August 22, 2016, the Company issued $192.0 million of senior unsecured notes in a private placement transaction. The notes bear interest at an annual rate of 4.56% and are due August 22, 2026. The notes are guaranteed by the Company's subsidiaries that guarantee the Company's unsecured credit facilities and existing senior unsecured notes. The notes contain covenants similar to those found in the Company's unsecured revolving credit facility.
[21] On December 14, 2016, the Company issued $450.0 million in aggregate principal amount of senior notes due on December 14, 2026 pursuant to an underwritten public offering. The notes bear interest at an annual rate of 4.75%. Interest is payable on June 15 and December 15 of each year beginning on June 15, 2017, until the stated maturity date of December 15, 2026. The notes were issued at 98.429% of their face value and are unsecured and guaranteed by certain of the Company’s subsidiaries. The notes contain various covenants, including: (i) a limitation on incurrence of any debt which would cause the ratio of the Company’s debt to adjusted total assets to exceed 60%; (ii) a limitation on incurrence of any secured debt which would cause the ratio of the Company’s secured debt to adjusted total assets to exceed 40%; (iii) a limitation on incurrence of any debt which would cause the Company’s debt service coverage ratio to be less than 1.5 times and (iv) the maintenance at all times of the Company's total unencumbered assets such that they are not less than 150% of the Company’s outstanding unsecured debt.
[22] The Company’s bonds payable due October 1, 2037 are secured by three theatres, which had a net book value of approximately $21.8 million at December 31, 2016, and bear interest at a variable rate which resets on a weekly basis and was 0.76% at December 31, 2016. The bonds requires monthly interest only payments with principal due at maturity.