Bank Borrowings. During 2018, we amended and restated our unsecured credit agreement to replace the previous unsecured credit agreement, prior to its expiration on October 14, 2018. The amended credit agreement maintains the $600,000,000 aggregate commitment of the lenders under the prior agreement and provides for the opportunity to increase the commitment size of the credit agreement up to a total of $1,000,000,000. The amended credit agreement extends the maturity of the credit agreement to June 27, 2022 and provides for a one-year extension option at our discretion, subject to customary conditions. Additionally, the amended credit agreement decreases the interest rate margins and converts from the payment of unused commitment fees to a facility fee. Based on our leverage at December 31, 2019, the facility provides for interest annually at LIBOR plus 115 basis points and a facility fee of 20 basis points. At December 31, 2019 and 2018 we were in compliance with all covenants.

Financial covenants contained in the Unsecured Credit Agreement, which are measured quarterly, require us to maintain, among other things:

Senior Unsecured Notes. We have a $337,500,000 shelf agreement with affiliates and managed accounts of PGIM, Inc. (“Prudential”), with availability of $21,500,000 at December 31, 2019, which expired for new issuance on February 16, 2020. During the fourth quarter of 2019, we sold $100,000,000 aggregate principal amount of 3.85% senior unsecured notes maturing in 2031 to Prudential.

The following table sets forth information regarding debt obligations by component as of December 31, 2019 and 2018 (dollar amounts in thousands):


		At December 31, 2019				At December 31, 2018
	Applicable			Available				Available
	Interest	Outstanding		for		Outstanding		for
Debt Obligations	Rate ⁽¹⁾	Balance		Borrowing		Balance		Borrowing
Bank borrowings ⁽²⁾	3.14%	$	93,900	$	506,100	$	112,000	$	488,000
Senior unsecured notes, net of debt issue costs	4.39%		599,488		21,500		533,029		93,833
Total	4.22%	$	693,388	$	527,600	$	645,029	$	581,833

(1)	Represents weighted average of interest rate as of December 31, 2019.

(2)	Subsequent to December 31, 2019, we borrowed $18,000 under our unsecured revolving line of credit, accordingly we have $111,900 outstanding balance and $488,100 available for borrowing under our unsecured revolving line of credit.

Our borrowings and repayments for the years ended December 31, 2019, 2018 and 2017 are as follows (in thousands):


	2019					2018				2017
Debt Obligations		Borrowings			Repayments	Borrowings		Repayments			Borrowings			Repayments
Bank borrowings	$	107,900		$	(126,000)	$	116,200	$	(100,700)	$	113,000		$	(123,600)
Senior unsecured notes		100,000	⁽¹⁾		(33,667)		—		(38,166)		100,000	⁽²⁾		(31,167)
Total	$	207,900		$	(159,667)	$	116,200	$	(138,866)	$	213,000		$	(154,767)

(1)	During the fourth quarter of 2019, we sold $100,000 senior unsecured notes to Prudential. See above to further discussion.

(2)	During 2017, we sold 15-year senior unsecured notes in the aggregate amount of $100,000 to a group of investors, which included Prudential, in a private placement transaction. The notes bear interest at an annual rate of 4.5%, have scheduled principal payments and mature on February 16, 2032.

Scheduled Principal Payments. The following table represents our long-term contractual obligations (scheduled principal payments and amounts due at maturity) as of December 31, 2019, and excludes the effects of interest and debt issue costs (in thousands):


	Total			2020		2021		2022		2023		2024		Thereafter
Bank borrowings	$	93,900	⁽¹⁾	$	—	$	—	$	93,900	$	—	$	—	$	—
Senior unsecured notes		600,300			40,160		47,160		48,160		49,160		49,160		366,500
	$	694,200		$	40,160	$	47,160	$	142,060	$	49,160	$	49,160	$	366,500

(1)	Subsequent to December 31, 2019, we borrowed $18,000 under our unsecured revolving line of credit, accordingly we have $111,900 outstanding balance and $488,100 available for borrowing.