Bonds Payable

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Bonds Payable

11. Bonds Payable

We have issued bonds through our subsidiary, Southern Properties Capital LTD, which are listed and trade on the Tel Aviv Stock Exchange. Payments of principal and interest are denominated in New Israeli Shekels. In connection with the principal and interest payments, we incurred a (loss) gain on foreign currency transactions of ($1,470) and ($5,153) for the three months ended September 30, 2020 and 2019, respectively, and $744 and ($13,296) for the nine months ended September 30, 2020 and 2019, respectively.

The following table summarizes the bonds payable as of September 30, 2020 and December 31, 2019:

	September 30,			December 31,
	2020			2019			Maturity Date
Bonds (Series A)	$	69,747		$	92,653		7/31/2023
Bonds (Series B)		61,029			60,764		7/31/2025
Bonds (Series C)		79,919			79,572		1/31/2023
Total outstanding bonds		210,695			232,989
Less: unamortized deferred bond issuance costs		(7,503	)		(9,724	)
Total outstanding bonds, net	$	203,192		$	223,265