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Unsecured Senior Notes | 9 Months Ended
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Sep. 30, 2021
Debt Disclosure [Abstract] |
Unsecured Senior Notes | 7. Unsecured Senior Notes The following summarizes the unsecured senior notes outstanding as of September 30, 2021 (dollars in thousands):
| Coupon/Stated Rate |  | Effective Rate(1) |  | Principal Amount |  | Maturity Date(2)
11 Year Unsecured Senior Notes | 3.850 | % |  | 3.954 | % |  | $ | 1,000,000 |  |  | February 1, 2023 | (3)
10.5 Year Unsecured Senior Notes | 3.125 | % |  | 3.279 | % |  | 500,000 |  |  | September 1, 2023 |
10.5 Year Unsecured Senior Notes | 3.800 | % |  | 3.916 | % |  | 700,000 |  |  | February 1, 2024 |
7 Year Unsecured Senior Notes | 3.200 | % |  | 3.350 | % |  | 850,000 |  |  | January 15, 2025 |
10 Year Unsecured Senior Notes | 3.650 | % |  | 3.766 | % |  | 1,000,000 |  |  | February 1, 2026 |
10 Year Unsecured Senior Notes | 2.750 | % |  | 3.495 | % |  | 1,000,000 |  |  | October 1, 2026 |
10 Year Unsecured Senior Notes | 4.500 | % |  | 4.628 | % |  | 1,000,000 |  |  | December 1, 2028 |
10 Year Unsecured Senior Notes | 3.400 | % |  | 3.505 | % |  | 850,000 |  |  | June 21, 2029 |
10.5 Year Unsecured Senior Notes | 2.900 | % |  | 2.984 | % |  | 700,000 |  |  | March 15, 2030 |
10.75 Year Unsecured Senior Notes | 3.250 | % |  | 3.343 | % |  | 1,250,000 |  |  | January 30, 2031 |
11 Year Unsecured Senior Notes | 2.550 | % |  | 2.671 | % |  | 850,000 |  |  | April 1, 2032 |
12 Year Unsecured Senior Notes | 2.450 | % |  | 2.524 | % |  | 850,000 |  |  | October 1, 2033 |
Total principal |  |  |  |  | 10,550,000 |  |  |  |
Less: |  |  |  |  |  |  |  |
Net unamortized discount |  |  |  |  | 17,581 |  |  |  |
Deferred financing costs, net |  |  |  |  | 52,768 |  |  |  |
Total |  |  |  |  | $ | 10,479,651 |  |  |  |
_______________ (1)Yield on issuance date including the effects of discounts on the notes, settlements of interest rate contracts and the amortization of financing costs. (2)No principal amounts are due prior to maturity. (3)See Note 15. On February 14, 2021, Boston Properties Limited Partnership completed the redemption of $850.0 million in aggregate principal amount of its 4.125% senior notes due May 15, 2021. The redemption price was approximately $858.7 million, which was equal to the stated principal plus approximately $8.7 million of accrued and unpaid interest to, but not including, the redemption date. Excluding the accrued and unpaid interest, the redemption price was equal to the principal amount being redeemed. The Company recognized a loss from early extinguishment of debt totaling approximately $0.4 million related to unamortized origination costs. On March 16, 2021, Boston Properties Limited Partnership completed a public offering of $850.0 million in aggregate principal amount of its 2.550% unsecured senior notes due 2032. The notes were priced at 99.570% of the principal amount to yield an effective rate (including financing fees) of approximately 2.671% per annum to maturity. The notes will mature on April 1, 2032, unless earlier redeemed. The aggregate net proceeds from the offering were approximately $839.2 million after deducting underwriting discounts and transaction expenses. On September 29, 2021, Boston Properties Limited Partnership completed a public offering of $850.0 million in aggregate principal amount of its 2.450% unsecured senior notes due 2033. The notes were priced at 99.959% of the principal amount to yield an effective rate (including financing fees) of approximately 2.524% per annum to maturity. The notes will mature on October 1, 2033, unless earlier redeemed. The aggregate net proceeds from the offering were approximately $842.5 million after deducting underwriting discounts and transaction expenses. The indenture relating to the unsecured senior notes contains certain financial restrictions and requirements, including (1) a leverage ratio not to exceed 60%, (2) a secured debt leverage ratio not to exceed 50%, (3) an interest coverage ratio of greater than 1.50, and (4) an unencumbered asset value of not less than 150% of unsecured debt. At September 30, 2021, Boston Properties Limited Partnership was in compliance with each of these financial restrictions and requiremen

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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