v3.20.2

Unsecured Credit Agreements (Tables) | 6 Months Ended
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Jun. 30, 2020
Summary of Debt Issuance Cost Amortization | The following table summarizes debt issuance cost amortization:
|  | For the three months ended June 30, |  |  | For the six months ended June 30, |
(in thousands) |  | 2020 |  |  | 2019 |  |  | 2020 |  |  | 2019 |
Debt issuance costs amortization |  | $ | 821 |  |  | $ | 597 |  |  | $ | 1,709 |  |  | $ | 1,150 |
Unsecured Debt |
Summary of Unsecured Credit Agreements | The following table summarizes the Company’s unsecured credit agreements:
|  | Outstanding Balance |  |  |  |  |  |  |
(in thousands, except interest rates) |  | June 30, 2020 |  |  | December 31, 2019 |  |  | Interest Rate(c) |  |  | Maturity Date
2020 Unsecured Term Loan(a) |  | $ | 240,000 |  |  | $ | 300,000 |  |  | one-month LIBOR + 1.25% |  |  | Feb. 2021(d)
Unsecured Revolving Credit and Term Loan Agreement(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revolving Credit Facility |  |  | 248,300 |  |  |  | 197,300 |  |  | one-month LIBOR + 1.20% |  |  | Jan. 2022
2023 Unsecured Term Loan |  |  | 265,000 |  |  |  | 265,000 |  |  | one-month LIBOR + 1.35% |  |  | Jan. 2023
2024 Unsecured Term Loan |  |  | 190,000 |  |  |  | 190,000 |  |  | one-month LIBOR + 1.25% |  |  | Jun. 2024
|  |  | 703,300 |  |  |  | 652,300 |  |  |  |  |  |  |
2022 Unsecured Term Loan(a) |  |  | 60,000 |  |  |  | — |  |  | one-month LIBOR + 1.25% |  |  | Feb. 2022
2026 Unsecured Term Loan(a) |  |  | 450,000 |  |  |  | 450,000 |  |  | one-month LIBOR + 1.85% |  |  | Feb. 2026
Senior Notes(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Series A |  |  | 150,000 |  |  |  | 150,000 |  |  | 4.84% |  |  | Apr. 2027
Series B |  |  | 225,000 |  |  |  | 225,000 |  |  | 5.09% |  |  | Jul. 2028
Series C |  |  | 100,000 |  |  |  | 100,000 |  |  | 5.19% |  |  | Jul. 2030
|  |  | 475,000 |  |  |  | 475,000 |  |  |  |  |  |  |
Total |  |  | 1,928,300 |  |  |  | 1,877,300 |  |  |  |  |  |  |
Debt issuance costs, net(b) |  |  | (6,908 | ) |  |  | (7,919 | ) |  |  |  |  |  |
|  | $ | 1,921,392 |  |  | $ | 1,869,381 |  |  |  |  |  |  |
(a) | The Company believes it was in compliance with all financial covenants for all periods presented.
(b) | Amounts presented include debt issuance costs, net, related to the unsecured term notes and senior notes only.
(c) | At June 30, 2020 and December 31, 2019, one-month LIBOR was 0.16% and 1.76%, respectively.
(d) | The 2020 Unsecured Term Loan was originally due in August 2020, and allows two six-month extensions, at the Company’s option, subject to the Company being in compliance with the debt covenants and customary representations and warranties, and payment of a fee equal to 0.05% of the outstanding principal balance at the time of extension. On May 5, 2020, the Company exercised the first of these options, effective on August 2, 2020, extending the maturity date of the 2020 Unsecured Term Loan to February 2, 2021.

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.22) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21506-112644 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28551-108399 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21521-112644 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21538-112644 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75038535&loc=d3e64711-112823 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=114775985&loc=d3e28878-108400 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644 + Details
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