Debt

The Company does not have indebtedness as debt is incurred by the Operating Partnership. The Company guarantees the Operating Partnership’s unsecured debt including the revolving credit facilities for the full term of such debt.

Debt consists of the following ($ in thousands):



	March 31, 2017			December 31, 2016			Weighted Average Maturity In Years
Unsecured bonds private placement - fixed rate	$	314,253		$	314,190		3.4
Term loan - variable rate	348,279			98,189			4.9
Bonds public offering - fixed rate	2,532,597			2,834,400			6.8
Unsecured debt, net ⁽¹⁾	3,195,129			3,246,779
Lines of credit ⁽²⁾	176,233			125,000
Mortgage notes payable, net ⁽³⁾	2,231,145			2,191,481			5.7
Total debt, net	$	5,602,507		$	5,563,260
Weighted average interest rate on fixed rate unsecured and unsecured private placement bonds	3.8		%	3.6		%
Weighted average interest rate on variable rate term loan	2.2		%	2.3		%
Weighted average interest rate on lines of credit	1.9		%	1.8		%
Weighted average interest rate on mortgage notes payable	4.3		%	4.3		%

(1) Includes unamortized discount of $2.6 million and $0.1 million and unamortized debt issuance costs of $17.3 million and $18.1 million, as of March 31, 2017 and December 31, 2016, respectively.

(2) Lines of credit, related to the Company's two lines of unsecured credit aggregating $1.03 billion, excludes unamortized debt issuance costs of $4.0 million and $3.3 million as of March 31, 2017 and December 31, 2016, respectively. These debt issuance costs are included in prepaid expenses and other assets on the condensed consolidated balance sheets. As of March 31, 2017, the Company had two lines of unsecured credit aggregating $1.03 billion. The Company’s $1.0 billion credit facility had an interest rate of LIBOR plus 0.90%, which is based on a tiered rate structure tied to the Company’s credit ratings. In January 2017, the Company’s $1.0 billion credit facility’s maturity date was extended to December 2020 with one 18-month extension, exercisable at the Company’s option. The Company’s $25.0 million working capital unsecured line of credit had an interest rate of LIBOR plus 0.90%, which is based on a tiered rate structure tied to the Company’s credit ratings. The $25.0 million credit facility matures in January 2018.

(3) Includes unamortized premium of $46.0 million and $50.8 million and reduced by unamortized debt issuance costs of $6.9 million and $7.4 million, as of March 31, 2017 and December 31, 2016, respectively.

The aggregate scheduled principal payments of the Company’s outstanding debt as of March 31, 2017 are as follows (excluding lines of credit) ($ in thousands):



Remaining in 2017	$	114,776
2018	301,858
2019	653,114
2020	695,070
2021	552,831
Thereafter	3,089,422
Total	$	5,407,071