Subsequent Events

9 Months Ended

Sep. 30, 2015

15.	Subsequent Events

In October 2015, the Company issued $400.0 million aggregate principal amount of 4.25% senior unsecured notes due February 2026. The Company may use all or a portion of the net proceeds from the issuance of the 4.25% senior unsecured notes due 2026, together with cash on hand, to satisfy the cash obligations in connection with the repurchase, redemption or conversion of the $350 million Convertible Notes, as described below. Furthermore, the Company may use all or a portion of the net proceeds from the issuance of the 4.25% senior unsecured notes due 2026 to repay debt under the Unsecured Credit Facility and for general corporate purposes, which may include the repayment of secured and unsecured debt from time to time.

Also in October 2015, the Company commenced an offer to purchase the Convertible Notes for cash in an amount equal to the total aggregate principal amount of the Convertible Notes on November 15, 2015, as required under the terms of the Convertible Notes. Additionally, the Company called for redemption the balance of the outstanding Convertible Notes, to occur on November 20, 2015. Calling the Company’s Convertible Notes for redemption triggered a right of conversion for the holders of the Convertible Notes, whereby such holders may require the Company to deliver to them (i) cash in an amount up to the principal amount of Convertible Notes being converted, and (ii) to the extent that the applicable conversion value exceeds the principal amount of the Convertible Notes being converted, such excess amount in cash, common shares or a combination thereof, at the Company’s election. The Company has elected to satisfy any such excess by delivering common shares.