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DEBT (Tables)
6 Months Ended
Jun. 30, 2021
Schedule of Debt Outstanding

Debt outstanding as of June 30, 2021 and December 31, 2020 consisted of the following (in thousands):

 

 

 

June 30,

 

 

December 31,

 

 

 

2021

 

 

2020

 

Revolving Credit Facility maturing April 2023. Interest payable

    periodically at variable interest rates. The weighted average rate

    at June 30, 2021 and December 31, 2020 was 1.6% and 1.7%,

    respectively.

 

$

112,000

 

 

$

219,000

 

Term Loan A maturing April 2023.  Interest payable periodically at

    variable interest rates. The rate at both June 30, 2021 and

    December 31, 2020 was 1.6%.  Unamortized debt issuance

    costs amounted to $0.0 million and $0.1 million at June 30, 2021

    and December 31, 2020, respectively.

 

 

175,000

 

 

 

180,000

 

Term Loan B maturing December 2024.  Interest payable periodically

    at variable interest rates. The rate at both June 30, 2021 and

    December 31, 2020 was 5.5%.  Unamortized debt issuance

    costs amounted to $3.6 million and $4.1 million

    at June 30, 2021 and December 31, 2020, respectively.

 

 

228,125

 

 

 

237,500

 

4.625% Senior Notes maturing May 2023.  Unamortized debt

    issuance costs amounted to $0.6 million and $1.5 million at

    June 30, 2021 and December 31, 2020, respectively.  A

    portion of these notes were repurchased during the second quarter

    of 2021 in privately negotiated transactions, as further described

    hereafter.

 

 

174,012

 

 

 

350,000

 

5.0% Senior Notes.  Unamortized debt issuance costs amounted to

    $0.8 million at December 31, 2020.  These notes were fully

    redeemed in April 2021, as further described hereafter.

 

 

 

 

 

250,000

 

4.75% Senior Notes maturing October 2027.  Unamortized debt

    issuance costs amounted to $2.5 million and $2.7 million at

    June 30, 2021 and December 31, 2020, respectively.

 

 

250,000

 

 

 

250,000

 

8.25% Senior Notes maturing April 2026.  Unamortized debt issuance

    costs amounted to $9.9 million at June 30, 2021.

 

 

450,000

 

 

 

 

4.5% Capital Commerce Center Non-Recourse Mortgage Note.

    Unamortized debt issuance costs amounted to $0.3 million

    at December 31, 2020.  This note was repaid in connection with

    the sale of Capital Commerce Center, as further described hereafter.

 

 

 

 

 

20,934

 

4.43% Lansing Correctional Center Non-Recourse Mortgage Note

    maturing January 2040.  Unamortized debt issuance costs

    amounted to $3.1 million at both June 30, 2021 and

    December 31, 2020.

 

 

155,941

 

 

 

157,607

 

4.5% SSA-Baltimore Non-Recourse Mortgage Note.  Unamortized

    debt issuance costs amounted to $0.2 million at December 31, 2020.

    This note was repaid in connection with the sale of SSA-Baltimore,

    as further described hereafter.

 

 

 

 

 

144,476

 

Total debt

 

 

1,545,078

 

 

 

1,809,517

 

Unamortized debt issuance costs

 

 

(19,723

)

 

 

(12,766

)

Unamortized original issue discount

 

 

(13,063

)

 

 

(10,000

)

Current portion of long-term debt

 

 

(31,999

)

 

 

(39,087

)

Long-term debt, net

 

$

1,480,293

 

 

$

1,747,664

 

Schedule of Principal Payments Scheduled principal payments as of June 30, 2021 for the remainder of 2021, the next five years, and thereafter were as follows (in thousands):

 

2021 (remainder)

 

$

15,784

 

2022

 

 

35,376

 

2023

 

 

467,158

 

2024

 

 

186,597

 

2025

 

 

5,823

 

2026

 

 

456,326

 

Thereafter

 

 

378,014

 

Total debt

 

$

1,545,078