Debt (Tables)

12 Months Ended

Dec. 31, 2015

Debt

Summary of senior notes issuances (dollars in thousands)

The following table summarizes the Company’s senior unsecured note issuances for the periods presented (dollars in thousands):

	Issuance
Period	Amount		Coupon Rate			Maturity Date		Net Proceeds
Year ended December 31, 2015:
January 21, 2015	$	600,000		3.400	%		2025	$	591,000
May 20, 2015	$	750,000		4.000	%		2025	$	739,000
December 1, 2015	$	600,000		4.000	%		2022	$	594,000
Year ended December 31, 2014:
February 21, 2014	$	350,000		4.200	%		2024	$	346,000
August 14, 2014	$	800,000		3.875	%		2024	$	792,000

Summary of senior notes payoffs (dollars in thousands)

The following table summarizes the Company’s senior unsecured notes payoffs for the periods presented (dollars in thousands):

Period	Amount		Coupon Rate
Year ended December 31, 2015:
March 1, 2015	$	200,000		6.000	%
June 8, 2015	$	200,000		7.072	%
Year ended December 31, 2014:
February 1, 2014	$	400,000		2.700	%
June 14, 2014	$	62,000		6.000	%
June 14, 2014	$	25,000		3 Month LIBOR+0.9	%

Summary of stated debt maturities and scheduled principal repayments (in thousands)

The following table summarizes the Company’s stated debt maturities and scheduled principal repayments at December 31, 2015 (dollars in thousands):

					Senior Unsecured Notes(3)				Mortgage Debt(4)
	Line of						Interest				Interest
Year	Credit(1)		Term Loans(2)		Amount		Rate		Amount		Rate		Total(5)
2016	$	—	$	202,034	$	900,000	5.09	%	$	279,194	6.84	%	$	1,381,228
2017		—		—		750,000	6.02	%		581,891	6.08	%		1,331,891
2018		397,432		—		600,000	6.81	%		6,583	5.90	%		1,004,015
2019		—		324,434		450,000	3.97	%		2,072	N/A			776,506
2020		—		—		800,000	2.79	%		2,078	5.14	%		802,078
Thereafter		—		—		5,700,000	4.54	%		61,092	4.98	%		5,761,092
		397,432		526,468		9,200,000	4.68	%		932,910	6.21	%		11,056,810
Discounts and debt costs, net		—		(1,661)		(79,893)				(698)				(82,252)
	$	397,432	$	524,807	$	9,120,107			$	932,212			$	10,974,558

(1) Represents  £270 million translated into U.S. dollars (“USD”).  

(2) Represents £357 million translated into USD.

(3) Interest rates on the notes ranged from 2.79% to 6.88% with a weighted average effective rate of 4.68% and a weighted average maturity ofsix years.

(4) Interest rates on the mortgage debt ranged from 3.14% to 8.35% with a weighted average effective interest rate of 6.21% and a weighted average maturity of two years.

(5) Excludes $94 million of other debt that represents Life Care Bonds and Demand Notes that have no scheduled maturities.