Debt Obligations (Tables)

6 Months Ended

Jun. 30, 2022

Debt Obligations

Schedule of interest rate swaps

As of June 30, 2022 and December 31, 2021, the terms of the Interest Rate Swaps are as follows (dollar amounts in thousands):

						Notional	Fair Value at
Date Entered	Maturity Date	Swap Rate		Rate Index		Amount		June 30, 2022		December 31, 2021
November 2021	November 19, 2025	2.56	%	1-month LIBOR	$	50,000	$	2,824	$	(38)
November 2021	November 19, 2026	2.69	%	1-month LIBOR		50,000		3,315		(134)
					$	100,000	$	6,139	$	(172)

Schedule of Debt Obligations

The following table sets forth information regarding debt obligations by component as of June 30, 2022 and December 31, 2021 (dollar amounts in thousands):

		At June 30, 2022				At December 31, 2021
	Applicable			Available				Available
	Interest	Outstanding		for		Outstanding		for
Debt Obligations	Rate (1)	Balance		Borrowing		Balance		Borrowing
Revolving line of credit (2)	2.67%	$	56,000	$	344,000	$	110,900	$	289,100
Term loans, net of debt issue costs	2.63%		99,437		—		99,363		—
Senior unsecured notes, net of debt issue costs (3)	4.28%		579,431		—		512,456		—
Total	3.93%	$	734,868	$	344,000	$	722,719	$	289,100

(1) Represents weighted average of interest rate as of June 30, 2022.

(2) Subsequent to June 30, 2022, we borrowed $20,500 under the Revolving Line of Credit. Accordingly, we currently have $76,500 outstanding and $323,500 available for borrowing under the Revolving Line of Credit.

(3) Subsequent to June 30, 2022, we paid $20,160 in regular scheduled principal payments under our senior unsecured notes. Accordingly, we currently have $559,271 outstanding under our senior unsecured notes, net of debt issue costs.

Schedule of borrowings and repayments

Our borrowings and repayments are as follows (in thousands):

	Six Months Ended June 30,
	2022				2021
Debt Obligations		Borrowings		Repayments	Borrowings		Repayments
Revolving line of credit (1)	$	99,000	$	(153,900)	$	17,000	$	(41,000)
Term loans		—		—		—		—
Senior unsecured notes (2)		75,000		(7,000)		—		(7,000)
Total	$	174,000	$	(160,900)	$	17,000	$	(48,000)

(1) Subsequent to June 30, 2022, we borrowed $20,500 under the Revolving Line of Credit. Accordingly, we currently have $76,500 outstanding and $323,500 available for borrowing under the Revolving Line of Credit.

(2) Subsequent to June 30, 2022, we paid $20,160 in regular scheduled principal payments under our senior unsecured notes. Accordingly, we currently have $559,271 outstanding under our senior unsecured notes, net of debt issue costs.