DEBT OBLIGATIONS (Tables)

3 Months Ended

Mar. 31, 2022

The following table sets forth information regarding the Company’s consolidated debt obligations outstanding as of March 31, 2022 and December 31, 2021 (in thousands):


	March 31, 2022		December 31, 2021		Effective Interest Rate	Maturity Date












UNSECURED DEBT
$600 million Unsecured Credit Facility	$	156,000	$	23,000	LIBOR + 1.10%	July 2022	(a)
Term Loan - Swapped to fixed	250,000		250,000		2.87%	October 2022
$350.0M 3.95% Guaranteed Notes due 2023	350,000		350,000		3.87%	February 2023
$350.0M 4.10% Guaranteed Notes due 2024	350,000		350,000		3.78%	October 2024
$450.0M 3.95% Guaranteed Notes due 2027	450,000		450,000		4.03%	November 2027
$350.0M 4.55% Guaranteed Notes due 2029	350,000		350,000		4.30%	October 2029
Indenture IA (Preferred Trust I)	27,062		27,062		LIBOR + 1.25%	March 2035
Indenture IB (Preferred Trust I)	25,774		25,774		LIBOR + 1.25%	April 2035
Indenture II (Preferred Trust II)	25,774		25,774		LIBOR + 1.25%	July 2035
Principal balance outstanding	1,984,610		1,851,610
Plus: original issue premium (discount), net	7,699		8,187
Less: deferred financing costs	(5,726)		(6,211)
Total unsecured indebtedness	$	1,986,583	$	1,853,586

(a)The Company has the right to extend the term of the Unsecured Credit Facility until July 2023 through two successive six-month extension options. The extension fees amount to 0.0625% and 0.0750% of the $600.0 million borrowing capacity for the first and second six-month extension, respectively.

Schedule of Maturities of Long-term Debt

As of March 31, 2022, the aggregate scheduled principal payments on the Company's debt obligations were as follows (in thousands):


2022 (nine months remaining)	$	406,000
2023	350,000
2024	350,000
2025	—
2026	—
Thereafter	878,610
Total principal payments	1,984,610
Net unamortized premiums/(discounts)	7,699
Net deferred financing costs	(5,726)
Outstanding indebtedness	$	1,986,583