Notes Payable and Debt and Financing Arrangements (Tables)

3 Months Ended

Mar. 31, 2018

The following table presents the Company's outstanding notes payable and debt at March 31, 2018 and December 31, 2017:



(U.S. dollars in thousands)	March 31, 2018		December 31, 2017
(U.S. dollars in thousands)	Outstanding (1)		Outstanding (1)
Debt Issuance:
$300 million, 2.30% Senior Notes due December 2018	$	299,525	$	299,357
$400 million, 5.75% Senior Notes due October 2021	398,492		398,384
$350 million, 6.375% Senior Notes due November 2024	349,275		349,248
$500 million, 4.45% Subordinated Notes due March 2025	494,340		494,138
$325 million, 6.25% Senior Notes due May 2027	323,571		323,531
$300 million, 5.25% Senior Notes due December 2043	296,593		296,560
$500 million, 5.5% Subordinated Notes due March 2045 (2)	472,928		472,832
€500 million, 3.25% Subordinated Notes due June 2047 (3)	605,737		586,719
Total debt carrying value	$	3,240,461	$	3,220,769

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(1)	"Outstanding" data represent March 31, 2018 and December 31, 2017 accreted values.


(2)	On July 7, 2017, the Company repurchased and canceled $16.7 million of the original debt issuance. See below for further details.


(3)	This issuance carries a fixed coupon of 3.25% for a period of ten years, then a floating rate of three-month EURIBOR plus 2.90% from (and including) June 29, 2027 through maturity. The outstanding amount is subject to movement due to foreign exchange

The following table presents the Company's ten letter of credit facilities and revolving credit facilities at March 31, 2018 and December 31, 2017:



(U.S. dollars in thousands)	March 31, 2018					December 31, 2017
Facility Name:	Commitment		In Use/ Outstanding			Commitment		In Use/ Outstanding
2016 Credit Agricole Facility I	125,000		125,000			125,000		125,000
2016 Credit Agricole Facility II	125,000		125,000			125,000		125,000
2017 Commonwealth Bank Facility	215,000		215,000			215,000		215,000
2017 Credit Suisse Facility	100,000		100,000			100,000		100,000
FAL Facility I	125,000		125,000			125,000		125,000
FAL Facility II	125,000		125,000			125,000		125,000
FAL Facility III	125,000		125,000			125,000		125,000
FAL Facility IV	125,000		125,000			125,000		125,000
Syndicated Unsecured Facility	750,000		105,655			750,000		2,000
2017 Commerzbank Facility	100,000		100,000			100,000		100,000
Total unsecured LOC facilities	$	1,915,000	$	1,270,655		$	1,915,000	$	1,167,000
Facilities collateralized by certain investment assets	1,552,841		1,536,556			1,477,986		1,382,226
Total LOC facilities	$	3,467,841	$	2,807,211		$	3,392,986	$	2,549,226

Percentage of facilities collateralized by certain investment assets			54.7		%			54.2		%