Indebtedness

12 Months Ended

Dec. 31, 2020

At December 31, 2020 and 2019, our outstanding indebtedness included the following (in thousands):


	December 31,
	2020		2019
Secured fixed rate debt
206 East 9th Street	$	—	$	25,433
	$	—	$	25,433
Unamortized net premiums and deferred financing fees	—		258
	$	—	$	25,691

Unsecured Revolving Credit Facility and Term Loan:

On May 4, 2018, we redeemed at par the total $400.0 million outstanding under our 5-year and 7-year term loans and recognized a loss on early extinguishment of debt of $1.5 million for the year ended December 31, 2018 from the write off of unamortized deferred financing fees. Prior to the redemption of the term loans, borrowings under the 5-year term loan and 7-year term loan, subject to certain exceptions, had interest rates of LIBOR rate plus a margin of 90 to 180 basis points for the 5-year term loan and 140 to 235 basis points for the 7-year term loan, in each case depending on our credit rating.

On December 26, 2018, we terminated the credit agreement and recognized a loss on early extinguishment of debt of $0.2 million for the year ended December 31, 2018 from the write off of unamortized deferred financing fees.

Debt Covenants:

We have no debt outstanding as of December 31, 2020, and, as a result, we have no debt covenants. We are also no longer rated by the debt rating agencies.

Senior Unsecured Notes:

On June 28, 2019, we redeemed all $250.0 million of our 5.875% senior unsecured notes due 2020 and recognized a loss on early extinguishment of debt of $6.4 million for the year ended December 31, 2019 from prepayment fees, the write off of unamortized deferred financing fees and the write off of an unamortized discount.

On March 7, 2018, we redeemed at par all $175.0 million of our 5.75% senior unsecured notes due 2042 and recognized a loss on early extinguishment of debt of $4.9 million for the year ended December 31, 2018 from the write off of unamortized deferred financing fees.

Mortgage Notes Payable:

As of July 5, 2020, we repaid at par $25.1 million of mortgage debt at 206 East 9th Street and recognized a gain on early extinguishment of debt of $0.1 million for the year ended December 31, 2020 from the write off of an unamortized premium, net of prepayment fees and the write off of unamortized deferred financing fees.

In December 2018, we repaid $4.9 million of mortgage debt at 97 Newberry Road and recognized a loss on early extinguishment of debt of $0.6 million for the year ended December 31, 2018 from prepayment fees and the write off of unamortized deferred financing fees.