| Schedule of Term Loans and Notes Payable |
The following table presents the Term Loan balances under the Credit Agreement.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding Balance |
|
(Dollars in thousands) |
|
Maturity
Date |
|
Interest
Rate |
|
|
June 30,
2025 |
|
|
December 31,
2024 |
|
Term Loans: |
|
|
|
|
|
|
|
|
|
|
|
Term loan due 2025 |
|
Nov 2025 |
|
N/A |
|
(a) |
$ |
— |
|
|
$ |
150,000 |
|
Term loan due 2026 |
|
Nov 2026 |
|
|
5.39 |
% |
(a)(b) |
|
100,000 |
|
|
|
100,000 |
|
Term loan due 2027 |
|
Feb 2027 |
|
|
5.34 |
% |
(a) |
|
90,000 |
|
|
|
90,000 |
|
Term loan due 2027 |
|
Mar 2027 |
|
|
5.34 |
% |
(a)(b) |
|
85,000 |
|
|
|
85,000 |
|
Term loan due 2028 |
|
Feb 2028 |
|
|
5.34 |
% |
(a) |
|
90,000 |
|
|
|
90,000 |
|
Term loan due 2029 |
|
Feb 2029 |
|
|
5.34 |
% |
(a)(b) |
|
225,000 |
|
|
|
— |
|
Total Term Loans |
|
|
|
|
|
|
$ |
590,000 |
|
|
$ |
515,000 |
|
(a)Loan is a variable‑rate loan which resets at Daily Simple SOFR + 10 basis points + the applicable credit spread of 0.95% to 1.00% at June 30, 2025. (b)Loan has one twelve month extension option exercisable at the Company's discretion, subject to certain conditions. The following table presents the senior unsecured fixed rate notes balance.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Outstanding Balance |
|
(Dollars in thousands) |
|
Maturity
Date |
|
Interest
Rate |
|
|
June 30,
2025 |
|
|
December 31,
2024 |
|
Notes Payable: |
|
|
|
|
|
|
|
|
|
|
|
Senior unsecured fixed rate note, issued December 2018 |
|
Dec 2026 |
|
|
4.63 |
% |
|
$ |
50,000 |
|
|
$ |
50,000 |
|
Senior unsecured fixed rate note, issued June 2017 |
|
Jun 2027 |
|
|
4.93 |
% |
|
|
75,000 |
|
|
|
75,000 |
|
Senior unsecured fixed rate note, issued December 2018 |
|
Dec 2028 |
|
|
4.76 |
% |
|
|
50,000 |
|
|
|
50,000 |
|
Senior unsecured fixed rate note, issued April 2021 |
|
Apr 2029 |
|
|
2.74 |
% |
|
|
50,000 |
|
|
|
50,000 |
|
Senior unsecured fixed rate note, issued March 2020 |
|
Jun 2029 |
|
|
3.15 |
% |
|
|
50,000 |
|
|
|
50,000 |
|
Senior unsecured fixed rate note, issued March 2020 |
|
Apr 2030 |
|
|
3.20 |
% |
|
|
75,000 |
|
|
|
75,000 |
|
Senior unsecured fixed rate note, issued March 2022 |
|
Mar 2031 |
|
|
3.09 |
% |
|
|
50,000 |
|
|
|
50,000 |
|
Senior unsecured fixed rate note, issued April 2021 |
|
Apr 2031 |
|
|
2.99 |
% |
|
|
50,000 |
|
|
|
50,000 |
|
Senior unsecured fixed rate note, issued March 2022 |
|
Mar 2032 |
|
|
3.11 |
% |
|
|
75,000 |
|
|
|
75,000 |
|
Senior unsecured fixed rate note, issued July 2023 |
|
Jul 2033 |
|
|
6.44 |
% |
|
|
100,000 |
|
|
|
100,000 |
|
Total Notes |
|
|
|
|
|
|
$ |
625,000 |
|
|
$ |
625,000 |
|
|
| Schedule of Maturities of Long-term Debt |
The following table presents scheduled principal payments related to the Company’s debt.
|
|
|
|
|
(In thousands) |
|
June 30, |
|
Remainder of 2025 |
|
$ |
— |
|
2026 |
|
|
150,000 |
|
2027 |
|
|
250,000 |
|
2028 |
|
|
140,000 |
|
2029 |
|
|
325,000 |
|
Thereafter |
|
|
350,000 |
|
Total Scheduled Principal Payments |
|
$ |
1,215,000 |
|
|