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Subsequent Events | 12 Months Ended
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Dec. 31, 2020
Subsequent Events |
Subsequent Events | s16. Subsequent Events On February 9, 2021, the Company commenced a cash tender offer for any and all outstanding $400 Million 5% Senior Notes at a redemption price of $1,005.00 per $1,000 principal amount of $400 Million 5% Senior Notes accepted for purchase in the tender offer. In accordance with the indenture governing the $400 Million 5% Senior Notes, subsequent to expiration of the tender offer, on February 17, 2021, the Company gave irrevocable notice of the redemption of all remaining $400 Million 5% Senior Notes not tendered in the tender offer and irrevocably deposited with the trustee for the $400 Million 5% Senior Notes and amount sufficient to pay the redemption price of the $400 Million 5% Senior Notes called for redemption at that date, including interest. The Company used a significant portion of the proceeds from the issuance of the $600 Million 4.50% Senior Notes described below to tender and redeem the $400 Million 5% Senior Notes. On February 17, 2021, the Operating Partnership and Finco (collectively, the “Issuers”) closed on a private placement of $600 million aggregate principal amount of 4.50% senior notes due 2029 (the “$600 Million 4.50% Senior Notes”). The $600 Million 4.50% Senior Notes will be senior unsecured obligations of the Issuers and guaranteed by the Company and its subsidiaries that guarantee the Credit Facility, the $400 Million 5% Senior Notes and $700 Million 4.75% Senior Notes. The aggregate net proceeds from the sale of the $600 Million 4.5% Senior Notes were approximately $591 million, after deducting the initial purchasers’ discounts and commissions and estimated offering expenses. After using a significant portion of these net proceeds to tender and redeem the Company’s $400 Million 5% Senior Notes, the Company used the net proceeds to repay all of the amounts outstanding under the Revolver. The Company may use any remaining proceeds for general corporate purposes. ​

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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