Schedule of Debt Outstanding |
Debt outstanding consists of the following (in thousands):
|
|
December 31, |
|
|
|
2018 |
|
|
2017 |
|
Revolving Credit Facility, principal due at maturity
in April 2023; interest payable periodically at
variable interest rates. The weighted average rate at
December 31, 2018 and 2017 was 4.0%
and 3.1%, respectively. |
|
$ |
201,000 |
|
|
$ |
199,000 |
|
Term Loan, scheduled principal payments through maturity in
April 2023; interest payable periodically at variable interest
rates. The rate at December 31, 2018 and 2017
was 4.0% and 3.1%, respectively. Unamortized debt issuance
costs amounted to $0.1 million and $0.3 million at
December 31, 2018 and 2017, respectively. |
|
|
197,500 |
|
|
|
85,000 |
|
4.625% Senior Notes, principal due at maturity in May 2023;
interest payable semi-annually in May and November at
4.625%. Unamortized debt issuance costs amounted to
$2.7 million and $3.3 million at December 31, 2018 and
2017, respectively. |
|
|
350,000 |
|
|
|
350,000 |
|
4.125% Senior Notes, principal due at maturity in April 2020;
interest payable semi-annually in April and October at
4.125%. Unamortized debt issuance costs amounted to
$1.0 million and $1.9 million at December 31, 2018 and
2017, respectively. |
|
|
325,000 |
|
|
|
325,000 |
|
5.0% Senior Notes, principal due at maturity in October 2022;
interest payable semi-annually in April and October at 5.0%.
Unamortized debt issuance costs amounted to $1.8 million
and $2.3 million at December 31, 2018 and 2017, respectively. |
|
|
250,000 |
|
|
|
250,000 |
|
4.75% Senior Notes, principal due at maturity in October 2027;
interest payable semi-annually in April and October at 4.75%.
Unamortized debt issuance costs amounted to $3.5 million
and $4.0 million at December 31, 2018 and 2017, respectively. |
|
|
250,000 |
|
|
|
250,000 |
|
4.5% Non-Recourse Mortgage Note, secured by Capital Commerce
Center; principal and interest at 4.5% payable monthly until
maturity in January 2033. Unamortized debt issuance costs
amounted to $0.3 million at December 31, 2018. |
|
|
23,429 |
|
|
|
— |
|
4.43% Non-Recourse Mortgage Note, secured by the Lansing
Correctional Facility; principal and interest at 4.43% payable
quarterly beginning in July 2020 until maturity in
January 2040. Unamortized debt issuance costs amounted
to $3.4 million at December 31, 2018. |
|
|
62,331 |
|
|
|
— |
|
4.5% Non-Recourse Mortgage Note, secured by SSA-Baltimore;
principal and interest at 4.5% payable monthly until maturity in
February 2034. Unamortized debt issuance costs amounted to
$0.3 million at December 31, 2018. |
|
|
155,535 |
|
|
|
— |
|
Total debt |
|
|
1,814,795 |
|
|
|
1,459,000 |
|
Unamortized debt issuance costs |
|
|
(13,119 |
) |
|
|
(11,813 |
) |
Current portion of long-term debt |
|
|
(14,121 |
) |
|
|
(10,000 |
) |
Long-term debt, net |
|
$ |
1,787,555 |
|
|
$ |
1,437,187 |
|
|
Schedule of Principal Payments |
Scheduled principal payments as of December 31, 2018 for the next five years and thereafter were as follows (in thousands):
2019 |
|
$ |
14,121 |
|
2020 |
|
|
343,849 |
|
2021 |
|
|
20,337 |
|
2022 |
|
|
274,231 |
|
2023 |
|
|
721,360 |
|
Thereafter |
|
|
440,897 |
|
Total debt |
|
$ |
1,814,795 |
|
|