SENIOR NOTES PAYABLE

12 Months Ended

Dec. 31, 2023

Senior notes payable, net, is comprised of the following as of December 31, 2023 and 2022:


	December 31, 2023		December 31, 2022
6.750% Senior notes due May 31, 2024	$	140,492	$	199,232
6.375% Senior notes due February 28, 2025	146,432		146,432
5.500% Senior notes due March 31, 2026	217,440		217,440
6.500% Senior notes due September 30, 2026	180,532		180,532
5.000% Senior notes due December 31, 2026	324,714		324,714
6.000% Senior notes due January 31, 2028	266,058		266,058
5.250% Senior notes due August 31, 2028	405,483		405,483
	1,681,151		1,739,891
Less: Unamortized debt issuance costs	(13,130)		(18,140)
	$	1,668,021	$	1,721,751

During the years ended December 31, 2023 and 2022, the Company issued $185 and $111,841, respectively, of senior notes with maturity dates ranging from May 2024 to August 2028 pursuant to At the Market Issuance Sales Agreements with BRS which governs the program of at-the-market sales of the Company’s senior notes. A series of prospectus supplements were filed by the Company with the SEC in respect of the Company’s offerings of these senior notes.

In June 2023, the Company entered into note purchase agreements in connection with the 6.75% Senior Notes due 2024 (“6.75% 2024 Notes”) that were issued for the Targus acquisition. The note purchase agreements had a repurchase date of June 30, 2023 on which date the Company repurchased 2,356,978 shares of its 6.75% 2024 Notes with an aggregate principal amount of $58,924. The repurchase price was equal to the aggregate principal amount, plus accrued and unpaid interest up to, but excluding, the repurchase date. The total repurchase payment included approximately $663 in accrued interest.

On February 29, 2024, the Company partially redeemed $115,492 aggregate principal amount of its 6.75% Senior Notes due 2024 (the “6.75% 2024 Notes”) pursuant to the seventh supplemental indenture dated December 3, 2021. The redemption price was equal to 100% of the aggregate principal amount, plus accrued and unpaid interest, up to, but excluding, the redemption date. The total redemption payment included approximately $628 in accrued interest.

As of December 31, 2023 and 2022, the total senior notes outstanding was $1,668,021 (net of unamortized debt issue costs of $13,130) and $1,721,751 (net of unamortized debt issue costs of $18,140) with a weighted average interest rate of 5.71% and 5.75%, respectively. Interest on the senior notes is payable on a quarterly basis. Interest expense on the senior notes totaled $103,192, $99,854, and $81,475 during the years ended December 31, 2023, 2022, and 2021, respectively.

As of December 31, 2023, the aggregate maturities of borrowings from notes payable, term loans, credit facilities, and senior notes for the next five years are as follows:



	Amount
2024	$	190,324
2025	194,723
2026	802,726
2027	530,486
2028	671,642