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Debt Obligations (Tables)
 12 Months Ended
Dec. 31, 2015
Debt Obligations  
Schedule of Debt Obligations

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Year ended December 31, 

 

 

 

 

 

2015

 

2014

 

 

 

Applicable

 

 

 

Available

 

 

 

Available

 

 

 

Interest

 

Outstanding

 

for

 

Outstanding

 

for

 

Debt Obligations

    

Rate(1)

    

Balance

    

Borrowing

    

Balance

    

Borrowing

 

Bank borrowings(2)

 

1.92%

 

$
120,500

 

$
479,500

 

$

 —

 

$
400,000

 

Senior unsecured notes, net of debt issue costs

 

4.64%

 

 
451,372

 

 
33,333

 

 
280,584

 

 

n.a.

 

Total

 

4.07%

 

$
571,872

 

 

 

 

$
280,584

 

 

 

 

(1)

Represents weighted average of interest rate as of December 31, 2015.

 

(2)

Subsequent to December 31, 2015, we borrowed $32,000. Accordingly, we have $152,500 outstanding and $447,500 available for borrowing.
Schedule of principal payments and amounts due at maturity

The following table represents our long term contractual obligations (scheduled principal payments and amounts due at maturity) as of December 31, 2015, and excludes the effects of interest and debt issue costs (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Total

    

2016

    

2017

    

2018

    

2019

    

2020

    

Thereafter

 

Bank borrowings

 

$
120,500

(1)

$

 —

 

$

 —

 

$
120,500

 

$

 —

 

$

 —

 

$

 —

 

Senior unsecured notes

 

 
452,467

(2)

 
26,667

 

 
31,167

 

 
34,167

 

 
32,666

 

 
37,160

 

 
290,640

 

 

 

$
572,967

 

$
26,667

 

$
31,167

 

$
154,667

 

$
32,666

 

$
37,160

 

$
290,640

 

(1)

At December 31, 2015 we had $479,500 available for borrowing under our unsecured revolving line of credit. Subsequent to December 31, 2015, we borrowed $32,000. Accordingly, we have $152,500 outstanding and $447,500 available for borrowing.

(2)

Excludes debt issue costs of $1,095.