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DEBT (Tables)
9 Months Ended
Sep. 30, 2020
Schedule of Debt Outstanding

Debt outstanding as of September 30, 2020 and December 31, 2019 consisted of the following (in thousands):

 

 

 

September 30,

 

 

December 31,

 

 

 

2020

 

 

2019

 

Revolving Credit Facility maturing April 2023. Interest payable

    periodically at variable interest rates. The weighted average rate

    at September 30, 2020 and December 31, 2019 was 1.7% and 3.3%,

    respectively.

 

$

456,000

 

 

$

365,000

 

Term Loan A maturing April 2023.  Interest payable periodically at

    variable interest rates. The rate at September 30, 2020 and

    December 31, 2019 was 1.6% and 3.3%, respectively.

    Unamortized debt issuance costs amounted to $0.1 million at

    both September 30, 2020 and December 31, 2019.

 

 

182,500

 

 

 

190,000

 

Term Loan B maturing December 2024.  Interest payable periodically

    at variable interest rates. The rate at September 30, 2020 and

    December 31, 2019 was 5.5% and 6.3%, respectively.

    Unamortized debt issuance costs amounted to $4.3 million and $4.6

    million at September 30, 2020 and December 31, 2019, respectively.

 

 

240,625

 

 

 

250,000

 

4.625% Senior Notes maturing May 2023.  Unamortized debt issuance

    costs amounted to $1.6 million and $2.1 million at

    September 30, 2020 and December 31, 2019, respectively.

 

 

350,000

 

 

 

350,000

 

5.0% Senior Notes maturing October 2022.  Unamortized debt issuance

    costs amounted to $1.0 million and $1.3 million at

    September 30, 2020 and December 31, 2019, respectively.

 

 

250,000

 

 

 

250,000

 

4.75% Senior Notes maturing October 2027.  Unamortized debt issuance

    costs amounted to $2.8 million and $3.1 million at

    September 30, 2020 and December 31, 2019, respectively.

 

 

250,000

 

 

 

250,000

 

4.5% Capital Commerce Center Non-Recourse Mortgage Note

    maturing January 2033.  Unamortized debt issuance costs amounted

    to $0.3 million at both September 30, 2020 and December 31, 2019.

 

 

21,258

 

 

 

22,209

 

4.43% Lansing Correctional Center Non-Recourse Mortgage Note

    maturing January 2040.  Unamortized debt issuance costs amounted

    to $3.2 million and $3.3 million at September 30, 2020 and

    December 31, 2019, respectively.

 

 

158,570

 

 

 

159,522

 

4.5% SSA-Baltimore Non-Recourse Mortgage Note maturing

    February 2034.  Unamortized debt issuance costs amounted to $0.2

    million at both September 30, 2020 and December 31, 2019.

 

 

145,915

 

 

 

150,134

 

4.91% Government Real Estate Solutions Non-Recourse Mortgage

    Note maturing November 2025.

 

 

51,545

 

 

 

 

Total debt

 

 

2,106,413

 

 

 

1,986,865

 

Unamortized debt issuance costs

 

 

(13,452

)

 

 

(14,993

)

Unamortized original issue discount

 

 

(10,625

)

 

 

(12,500

)

Current portion of long-term debt

 

 

(38,644

)

 

 

(31,349

)

Long-term debt, net

 

$

2,043,692

 

 

$

1,928,023

 

Schedule of Principal Payments Scheduled principal payments as of September 30, 2020 for the remainder of 2020, the next five years, and thereafter were as follows (in thousands):

 

2020 (remainder)

 

$

8,585

 

2021

 

 

40,047

 

2022

 

 

293,990

 

2023

 

 

996,170

 

2024

 

 

196,044

 

2025

 

 

61,730

 

Thereafter

 

 

509,847

 

Total debt

 

$

2,106,413