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Debt Obligations (Tables)
 3 Months Ended
Mar. 31, 2018
Debt Obligations  
Schedule of Debt Obligations

The debt obligations by component as of March 31, 2018 and December 31, 2017 are as follows (dollar amounts in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

At March 31, 2018

 

At December 31, 2017

 

 

 

Applicable

 

 

 

Available

 

 

 

Available

 

 

 

Interest

 

Outstanding

 

for

 

Outstanding

 

for

 

Debt Obligations

    

Rate(1)

    

Balance

    

Borrowing

    

Balance

    

Borrowing

 

Bank borrowings(2)

 

3.21%

 

$

120,500

 

$

479,500

 

$

96,500

 

$

503,500

 

Senior unsecured notes, net of debt issue costs

 

4.49%

 

 

566,888

 

 

67,833

 

 

571,002

 

 

63,667

 

Total

 

4.27%

 

$

687,388

 

$

547,333

 

$

667,502

 

$

567,167

 

(1)

Represents weighted average of interest rate as of March 31, 2018.  

 

(2)

Subsequent to March 31, 2018, we repaid $65,000 under our unsecured revolving line of credit. Accordingly, we have $55,500 outstanding under our unsecured revolving line of credit with $544,500 available for borrowing.
Schedule of borrowings and repayments

Our borrowings and repayments are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended March 31,

 

 

2018

 

2017

Debt Obligations

 

 

Borrowings

 

 

Repayments

 

Borrowings

 

Repayments

Bank borrowings

 

$

24,000

 

$

 —

 

$

3,500

 

$

(110,600)

Senior unsecured notes

 

 

 —

 

 

(4,166)

 

 

100,000

(1)

 

(4,167)

Totals

 

$

24,000

 

$

(4,166)

 

$

103,500

 

$

(114,767)

(1)

During 2017, we sold 15-year senior unsecured notes in the aggregate amount of $100,000 to a group of investors, which included Prudential, in a private placement transaction. The notes bear interest at an annual rate of 4.5%, have scheduled principal payments and mature on February 16, 2032.