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Debt (Tables) | 3 Months Ended
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Mar. 31, 2024
Debt Disclosure [Abstract] |
Schedule of Debt | The following table reflects a summary of our outstanding indebtedness as of March 31, 2024 and December 31, 2023 (in thousands):
| March 31, 2024 | December 31, 2023
| Carrying Amount |  | Carrying Amount |
Senior Unsecured Notes | $ | 1,759,250 |  |  | $ | 1,777,925 |  |
Senior Unsecured Term Loans | 829,650 |  |  | 833,775 |  |
Senior Unsecured Revolving Credit Facility | 455,919 |  |  | 392,156 |  |
Total principal amount of indebtedness | $ | 3,044,819 |  |  | $ | 3,003,856 |  |
Less: unamortized deferred financing costs | (9,908) |  |  | (10,578) |  |
Total indebtedness, net of deferred financing costs | $ | 3,034,911 |  |  | $ | 2,993,278 |  |
The following table provides the details of our Senior Unsecured Notes (in thousands):
|  |  |  | March 31, 2024 |  | December 31, 2023
| Stated Maturity Date | Contractual Interest Rate |  | Borrowing Currency | Carrying Amount (USD) |  | Borrowing Currency | Carrying Amount (USD)
Series A Notes | 01/2026 | 4.7% |  | $ | 200,000 |  | $ | 200,000 |  |  | $ | 200,000 |  | $ | 200,000 |
Series B Notes | 01/2029 | 4.9% |  | $ | 400,000 |  | 400,000 |  |  | $ | 400,000 |  | 400,000 |
Series C Notes | 01/2030 | 4.1% |  | $ | 350,000 |  | 350,000 |  |  | $ | 350,000 |  | 350,000 |
Series D Notes | 01/2031 | 1.6% |  | € | 400,000 |  | 431,600 |  |  | € | 400,000 |  | 441,560 |
Series E Notes | 01/2033 | 1.7% |  | € | 350,000 |  | 377,650 |  |  | € | 350,000 |  | 386,365 |
Total Senior Unsecured Notes |  |  | $ | 1,759,250 |  |  |  | $ | 1,777,925 |
The following table provides the details of our Senior Unsecured Term Loans (balances in thousands):
|  | March 31, 2024 |  | December 31, 2023
|  | Contractual Interest Rate(1) |  | Borrowing Currency | Carrying Amount (USD) |  | Contractual Interest Rate(1) | Borrowing Currency | Carrying Amount (USD)
Tranche A-1 |  | SOFR 0.9% |  | $ | 375,000 |  | $ | 375,000 |  |  | SOFR 0.9% | $ | 375,000 |  | $ | 375,000 |
Tranche A-2 |  | CDOR 0.9% |  | C$ | 250,000 |  | 184,650 |  |  | CDOR 0.9% | C$ | 250,000 |  | 188,775 |
Delayed Draw Tranche A-3 |  | SOFR 0.9% |  | $ | 270,000 |  | 270,000 |  |  | SOFR 0.9% | $ | 270,000 |  | 270,000 |
Total Senior Unsecured Term Loan Facility |  |  | $ | 829,650 |  |  |  |  | $ | 833,775 |
(1) S = one-month Adjusted Term SOFR; C = one-month CDOR. Tranche A-1 and Tranche A-3 SOFR includes an adjustment of 0.1%, in addition to the margin. While the above reflects the contractual rate, refer to the description below of the Senior Unsecured Credit Facility for details of the portion of these Term Loans that are hedged, therefore, at a fixed interest rate for the duration of the respective swap agreement. Refer to Note 4 - Derivative Financial Instruments for details of the related interest rate swaps. The following table provides the details of our Senior Unsecured Revolving Credit Facility (in thousands):
|  | March 31, 2024 |  | December 31, 2023
Denomination of Draw |  | Contractual Interest Rate (1) |  | Borrowing Currency | Carrying Amount (USD) |  | Contractual Interest Rate(1) | Borrowing Currency | Carrying Amount (USD)
U.S. dollar |  | SOFR 0.8% |  | $ | 104,000 |  | $ | 104,000 |  |  | SOFR 0.8% | $ | 34,000 |  | $ | 34,000 |
Australian dollar |  | BBSW 0.8% |  | A$ | 197,000 |  | 128,464 |  |  | BBSW 0.8% | A$ | 191,000 |  | 130,108 |
British pound sterling |  | SONIA 0.8% |  | £ | 78,000 |  | 98,459 |  |  | SONIA 0.8% | £ | 78,000 |  | 99,302 |
Canadian dollar |  | CDOR 0.8% |  | C$ | 35,000 |  | 25,851 |  |  | CDOR 0.8% | C$ | 35,000 |  | 26,429 |
Euro |  | EURIBOR 0.8% |  | € | 67,500 |  | 72,833 |  |  | EURIBOR 0.8% | € | 67,500 |  | 74,513 |
New Zealand dollar |  | BKBM 0.8% |  | NZD | 44,000 |  | 26,312 |  |  | BKBM 0.8% | NZD | 44,000 |  | 27,804 |
Total Senior Unsecured Revolving Credit Facility |  |  | $ | 455,919 |  |  |  |  | $ | 392,156 |
(1) S = one-month Adjusted SOFR; C = one-month CDOR; E = Euro Interbank Offered Rate (EURIBOR); SONIA = Adjusted Sterling Overnight Interbank Average Rate; BBSW = Bank Bill Swap Rate; BKBM = Bank Bill Reference Rate. We have elected Daily SOFR for the entirety of our U.S. dollar denominated borrowings shown above, which includes an adjustment of 0.1%, in addition to the margin. Our British pound sterling borrowings bear interest tied to adjusted SONIA, which includes an adjustment of less than 0.1% in addition to our margin.

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- Definition Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. + References No definition available. + Details
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