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Senior Notes
6 Months Ended
Jun. 30, 2017
Debt Disclosure [Abstract]  
Senior Notes

NOTE 10 – Senior Notes

The following table summarizes our senior notes as of June 30, 2017 and December 31, 2016 (in thousands):

 

 

 

June 30, 2017

 

 

December 31,

2016

 

4.250% senior notes, due 2024 (1)

 

$

500,000

 

 

$

500,000

 

3.50% senior notes, due 2020 (2)

 

 

300,000

 

 

 

300,000

 

 

 

 

800,000

 

 

 

800,000

 

Debt issuance costs, net

 

 

(3,704

)

 

 

(4,109

)

 

 

$

796,296

 

 

$

795,891

 

 

1

In July 2014, we sold in a registered underwritten public offering, $300.0 million in aggregate principal amount of 4.250% senior notes due July 2024. Interest on these senior notes is payable semi-annually in arrears. We may redeem the notes in whole or in part, at our option, at a redemption price equal to 100% of their principal amount, plus a “make-whole” premium and accrued and unpaid interest, if any, to the date of redemption. In July 2016, we issued an additional $200.0 million in aggregate principal amount of 4.25% senior notes due 2024.

2

In December 2015, we sold in a registered underwritten public offering, $300.0 million in aggregate principal amount of 3.50% senior notes due December 2020. Interest on these senior notes is payable semi-annually in arrears. We may redeem the notes in whole or in part, at our option, at a redemption price equal to 100% of their principal amount, plus a “make-whole” premium and accrued and unpaid interest, if any, to the date of redemption.

Our senior notes mature as follows, based upon contractual terms (in thousands):

 

2017

 

$

 

2018

 

 

 

2019

 

 

 

2020

 

 

300,000

 

2021

 

 

 

Thereafter

 

 

500,000

 

 

 

$

800,000