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SUBSEQUENT EVENT
3 Months Ended
Mar. 31, 2015
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENT
 The Company evaluated subsequent events through the date of filing this Quarterly Report on Form 10-Q.
On April 30, 2015, we entered into a note purchase agreement with several institutional purchasers pursuant to which we will issue and sell to the purchasers $200.0 million of our new 2.67% seven-year unsecured senior notes (the "Series A notes") and $100.0 million of our new eight-year 2.74% unsecured senior notes (the "Series B notes").
Interest will be payable in arrears semi-annually on January 1, and July 1, beginning on January 1, 2016. The principal of the Series A notes will be payable at the maturity of the notes on July 1, 2022, and the principal of the Series B notes will be payable at the maturity of the notes on July 1, 2023. The notes will be unsecured obligations.