Debt Obligations (Tables)

9 Months Ended

Sep. 30, 2019

The debt obligations by component as of September 30, 2019 and December 31, 2018 are as follows (dollar amounts in thousands):


		At September 30, 2019				At December 31, 2018
	Applicable			Available				Available
	Interest	Outstanding		for		Outstanding		for
Debt Obligations	Rate ⁽¹⁾	Balance		Borrowing		Balance		Borrowing
Bank borrowings ⁽²⁾	3.39%	$	165,400	$	434,600	$	112,000	$	488,000
Senior unsecured notes, net of debt issue costs ⁽³⁾	4.48%		518,469		107,500		533,029		93,833
Total	4.22%	$	683,869	$	542,100	$	645,029	$	581,833

(1)	Represents weighted average of interest rate as of September 30, 2019.

(2)

Subsequent to September 30, 2019, we paid down $100,000 under our unsecured revolving line of credit, using the proceeds from the sale of $100,000 senior unsecured notes as explained below. Accordingly, we have $65,400 outstanding under our revolving line of credit with $534,600 available for borrowing.

(3)	Subsequent to September 30, 2019, we sold $100,000 aggregate principal amount of 3.85% senior unsecured notes maturing in 2031 to Prudential. Accordingly, we have $618,469 outstanding and $7,500 available under our senior unsecured notes.

Schedule of borrowings and repayments

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


	Nine Months Ended September 30,
	2019				2018
Debt Obligations		Borrowings		Repayments	Borrowings		Repayments
Bank borrowings	$	73,400	$	(20,000)	$	96,500	$	(73,000)
Senior unsecured notes		—		(14,667)		—		(20,166)
Total	$	73,400	$	(34,667)	$	96,500	$	(93,166)

- 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.

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+ Details