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Senior Notes | 12 Months Ended
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Sep. 30, 2023
Debt Disclosure [Abstract] |
Senior Notes | Senior Notes On May 8, 2018, we issued $400 million of senior notes in a private offering to qualified institutional investors (the “2018 Senior Notes”). The 2018 Senior Notes require interest payments semi-annually at a rate of 5.25% per annum and will mature on May 15, 2026. On December 6, 2019, we issued $350 million of senior notes in a private offering to qualified institutional investors (the “2019 Senior Notes”). The 2019 Senior Notes require interest payments semi-annually at a rate of 4.00% per annum and will mature on June 15, 2028. On December 17, 2021, we issued $550 million of additional senior notes of the same class as the 2019 Senior Notes in a private offering to qualified institutional investors (the “2021 Senior Notes,” and collectively with the 2018 Senior Notes and the 2019 Senior Notes, the “Senior Notes”). The 2021 Senior Notes require interest payments semi-annually at a rate of 4.00% per annum and will mature on June 15, 2028, the same date as the 2019 Senior Notes. The indentures for the Senior Notes contain certain covenants typical of unsecured obligations and we were in compliance as of September 30, 2023. The following table presents the face values and fair values for the Senior Notes at September 30, 2023 and 2022:
| September 30, 2023 |  | September 30, 2022
| Face Value (*) |  | Fair Value |  | Face Value (*) |  | Fair Value
| (In thousands)
The 2018 Senior Notes | $ | 400,000 |  |  | $ | 386,000 |  |  | $ | 400,000 |  |  | $ | 381,500 |
The 2019 Senior Notes and the 2021 Senior Notes | 900,000 |  |  | 803,250 |  |  | 900,000 |  |  | 767,250 |
Total | $ | 1,300,000 |  |  | $ | 1,189,250 |  |  | $ | 1,300,000 |  |  | $ | 1,148,750 |
(*) The carrying value of the Senior Notes was the face value reduced by the net debt issuance costs of $11.5 million and $14.3 million at September 30, 2023 and 2022, respectively. Future principal payments for the Senior Notes are as follows:
Year Ending September 30, | (In thousands)
2026 | 400,000 |
2027 | — |
2028 | 900,000 |
Total | $ | 1,300,000 |

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- Definition The entire disclosure for long-term debt. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent + Details
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