| Schedule of Debt |
The debt of the Operating Partnership consisted of the following (in thousands):
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As of |
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As of |
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June 30, 2016 |
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December 31, 2015 |
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Stated Interest Rate(s) |
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Maturity Date |
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Principal |
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Book Value(1)
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Principal |
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Book Value(1)
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Senior, unsecured notes: |
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Senior notes |
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6.125 |
% |
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June 2020 |
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$ |
300,000 |
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$ |
297,982 |
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$ |
300,000 |
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$ |
297,739 |
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Senior notes |
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3.875 |
% |
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December 2023 |
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250,000 |
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245,125 |
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250,000 |
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244,829 |
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Senior notes |
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3.750 |
% |
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December 2024 |
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250,000 |
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246,884 |
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250,000 |
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246,717 |
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Mortgages payable: |
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Atlantic City (2)
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5.14%-7.65% |
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November 2021- December 2026 |
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41,911 |
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44,925 |
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43,312 |
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46,605 |
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Deer Park |
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LIBOR + 1.50% |
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— |
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— |
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— |
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150,000 |
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149,145 |
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Foxwoods |
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LIBOR + 1.65% |
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December 2017 |
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70,250 |
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69,737 |
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70,250 |
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69,564 |
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Southaven |
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LIBOR + 1.75% |
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April 2018 |
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58,989 |
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58,553 |
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45,824 |
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45,273 |
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Westgate |
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LIBOR + 1.75% |
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June 2017 |
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62,000 |
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62,000 |
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— |
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— |
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Unsecured note payable (2)
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1.50 |
% |
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June 2016 |
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— |
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— |
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10,000 |
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9,919 |
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Unsecured term loan |
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LIBOR + 0.95% |
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April 2021 |
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325,000 |
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321,980 |
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250,000 |
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248,443 |
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Unsecured term note |
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LIBOR + 1.30% |
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— |
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— |
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— |
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7,500 |
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7,470 |
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Unsecured lines of credit |
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LIBOR + .90% |
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October 2019 |
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259,200 |
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255,661 |
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190,300 |
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186,220 |
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$ |
1,617,350 |
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$ |
1,602,847 |
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$ |
1,567,186 |
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$ |
1,551,924 |
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(1) |
Including premiums and net of debt discount and net debt origination costs. |
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(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%.
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| Schedule of Maturities of Long-term Debt |
Maturities of the existing long-term debt as of June 30, 2016 for the next five years and thereafter are as follows (in thousands):
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Calendar Year |
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Amount |
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2016 |
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$ |
1,442 |
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2017 |
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135,258 |
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2018 |
|
62,172 |
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2019 |
|
262,569 |
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2020 |
|
303,566 |
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Thereafter |
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852,343 |
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Subtotal |
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1,617,350 |
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Net discount and debt origination costs |
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(14,503 |
) |
Total |
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$ |
1,602,847 |
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