NOTE 13 – Corporate Debt

The following table summarizes our corporate debt as of December 31, 2013 and 2012 (in thousands):



	December 31, 2013		December 31, 2012

6.70% senior notes, due 2022 (1)	$	175,000	$	175,000
5.375% senior notes, due 2022 (2)		150,000		150,000
Non-recourse debt, 6.75%, due 2016 (3)		-		58,992
	$	325,000	$	383,992

(1) In January 2012, we sold in a registered underwritten public offering, $175.0 million in aggregate principal amount of 6.70% senior notes due January 2022. Interest on these senior notes is payable quarterly in arrears. On or after January 15, 2015, we may redeem some or all of the senior notes at any time at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued interest thereon to the redemption date.

(2)In December 2012, we sold in a registered underwritten public offering, $150.0 million in aggregate principal amount of 5.375% senior notes due December 2022. Interest on these senior notes is payable quarterly in arrears. On or after December 31, 2015, we may redeem some or all of the senior notes at any time at a redemption price equal to 100% of the principal amount of the notes being redeemed plus accrued interest thereon to the redemption date.

(3)During the year ended December 31, 2013, we sold all of the aircraft purchased in 2012 and used the proceeds to pay-off the principal balance of the non-recourse debt.

Our corporate debt matures as follows, based upon its contractual terms:


	Senior notes
2014	$	-
2015		-
2016		-
2017		-
2018		-
Thereafter		325,000
	$	325,000