| Schedule of Debt |
The debt of the Operating Partnership consisted of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of |
|
As of |
|
|
|
|
|
|
March 31, 2016 |
|
December 31, 2015 |
|
|
Stated Interest Rate(s) |
|
Maturity Date |
|
Principal |
|
Book Value(1)
|
|
Principal |
|
Book Value(1)
|
Senior, unsecured notes: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Senior notes |
|
6.125 |
% |
|
June 2020 |
|
|
$ |
300,000 |
|
|
$ |
297,860 |
|
|
$ |
300,000 |
|
|
$ |
297,739 |
|
Senior notes |
|
3.875 |
% |
|
December 2023 |
|
|
250,000 |
|
|
244,977 |
|
|
250,000 |
|
|
244,829 |
|
Senior notes |
|
3.750 |
% |
|
December 2024 |
|
|
250,000 |
|
|
246,798 |
|
|
250,000 |
|
|
246,717 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mortgages payable: |
|
|
|
|
|
|
|
|
|
|
|
|
Atlantic City (2)
|
|
5.14%-7.65% |
|
|
November 2021- December 2026 |
|
|
42,617 |
|
|
45,728 |
|
|
43,312 |
|
|
46,605 |
|
Deer Park |
|
LIBOR + 1.50% |
|
|
— |
|
|
— |
|
|
— |
|
|
150,000 |
|
|
149,145 |
|
Foxwoods |
|
LIBOR + 1.65% |
|
|
December 2017 |
|
|
70,250 |
|
|
69,651 |
|
|
70,250 |
|
|
69,564 |
|
Southaven |
|
LIBOR + 1.75% |
|
|
April 2018 |
|
|
52,717 |
|
|
52,224 |
|
|
45,824 |
|
|
45,273 |
|
Unsecured note payable (2)
|
|
1.50 |
% |
|
June 2016 |
|
|
10,000 |
|
|
9,959 |
|
|
10,000 |
|
|
9,919 |
|
Unsecured term loan |
|
LIBOR + 1.05% |
|
|
February 2019 |
|
|
250,000 |
|
|
248,581 |
|
|
250,000 |
|
|
248,443 |
|
Unsecured term note |
|
LIBOR + 1.30% |
|
|
— |
|
|
— |
|
|
— |
|
|
7,500 |
|
|
7,470 |
|
Unsecured lines of credit |
|
LIBOR + .90% |
|
|
October 2019 |
|
|
263,700 |
|
|
259,890 |
|
|
190,300 |
|
|
186,220 |
|
|
|
|
|
|
|
$ |
1,489,284 |
|
|
$ |
1,475,668 |
|
|
$ |
1,567,186 |
|
|
$ |
1,551,924 |
|
|
|
(1) |
Including premiums and net of debt discount and net debt origination costs. |
|
|
(2) |
The effective interest rates assigned during the purchase price allocation to the assumed mortgage and note payable during acquisitions in 2011 were as follows: Atlantic City 5.05% and unsecured note payable 3.15%.
|
|
| Schedule of Maturities of Long-term Debt |
Maturities of the existing long-term debt as of March 31, 2016 for the next five years and thereafter are as follows (in thousands):
|
|
|
|
|
|
Calendar Year |
|
Amount |
|
2016 |
|
$ |
12,148 |
|
2017 |
|
73,258 |
|
2018 |
|
55,900 |
|
2019 |
|
517,069 |
|
2020 |
|
303,566 |
|
Thereafter |
|
527,343 |
|
Subtotal |
|
1,489,284 |
|
Net discount and debt origination costs |
|
(13,616 |
) |
Total |
|
$ |
1,475,668 |
|
|