The Company’s unsecured debt is detailed below:


	December 31,
	2025		2024
	(In thousands)
Unsecured debt —Fixed rate, carrying amount (1)	$	1,615,000	1,510,000
Unamortized debt issuance costs	(3,974)		(2,843)
Unsecured debt, net of debt issuance costs	$	1,611,026	1,507,157

(1)These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps.

A summary of the carrying amount of Unsecured debt follows:


				Balance at December 31,
	Margin	Interest Rate	Maturity Date	2025		2024
				(In thousands)
$50 Million Unsecured Term Loan (1)	1.10%	1.58%	03/18/2025	$	—	50,000
$20 Million Senior Unsecured Notes	Not applicable	3.80%	08/28/2025	—		20,000
$25 Million Senior Unsecured Notes	Not applicable	3.97%	10/01/2025	—		25,000
$50 Million Senior Unsecured Notes	Not applicable	3.99%	10/07/2025	—		50,000
$100 Million Unsecured Term Loan (1) (2)	0.84%	1.98%	10/10/2026	100,000		100,000
$40 Million Senior Unsecured Notes	Not applicable	3.75%	12/15/2026	40,000		40,000
$100 Million Unsecured Term Loan (1) (2)	0.85%	1.70%	03/25/2027	100,000		100,000
$75 Million Unsecured Term Loan (1) (2)	0.84%	3.89%	08/31/2027	75,000		75,000
$60 Million Senior Unsecured Notes	Not applicable	3.93%	04/10/2028	60,000		60,000
$100 Million Unsecured Term Loan (1) (2)	0.85%	2.51%	09/29/2028	100,000		100,000
$80 Million Senior Unsecured Notes	Not applicable	4.27%	03/28/2029	80,000		80,000
$75 Million Senior Unsecured Notes	Not applicable	3.47%	08/19/2029	75,000		75,000
$100 Million Unsecured Term Loan (1) (2) (3)	0.95%	4.87%	01/13/2030	100,000		100,000
$100 Million Unsecured Term Loan (1)	0.85%	4.11%	04/30/2030	100,000		—
$100 Million Senior Unsecured Notes	Not applicable	2.61%	10/14/2030	100,000		100,000
$150 Million Unsecured Term Loan (1)	0.85%	4.15%	03/14/2031	150,000		—
$125 Million Senior Unsecured Notes	Not applicable	2.74%	06/10/2031	125,000		125,000
$35 Million Senior Unsecured Notes	Not applicable	3.54%	08/15/2031	35,000		35,000
$150 Million Senior Unsecured Notes	Not applicable	3.03%	04/20/2032	150,000		150,000
$75 Million Senior Unsecured Notes	Not applicable	2.71%	10/14/2032	75,000		75,000
$75 Million Senior Unsecured Notes	Not applicable	4.90%	10/12/2033	75,000		75,000
$75 Million Senior Unsecured Notes	Not applicable	4.95%	10/12/2034	75,000		75,000
				$	1,615,000	1,510,000

(1)The interest rates on these unsecured term loans are comprised of either Term or Daily SOFR plus a margin which is subject to a pricing grid for changes in the Company’s coverage ratings. The Company entered into interest rate swap agreements (further described in Note 12) to convert the loans’ Term or Daily SOFR rates to effectively fixed interest rates. The interest rates in the table above are the effectively fixed interest rates for the loans, including the effects of the interest rate swaps, as of December 31, 2025.

(2)These term loans were refinanced effective November 19, 2025 to remove the SOFR adjustment, decreasing the credit spread by 10 basis points, which is reflected in the margins and effectively fixed rate noted above.

(3)This term loan was refinanced effective January 9, 2025. It now carries a maturity date of January 13, 2028, with two one-year extension options available at the Company's election, which extends the maturity to January 13, 2030. Further detail is provided below.

In January 2025, EastGroup refinanced a $100,000,000 senior unsecured term loan, reducing the credit spread by 30 basis points to a total effectively fixed interest rate of 4.97%. The loan, which previously had five years remaining, was modified to a three year maturity with two one-year extension options, at the Company's election.

In March 2025, EastGroup repaid a $50,000,000 senior unsecured term loan at maturity with an effectively fixed interest rate of 1.58%.

In August 2025, EastGroup repaid senior unsecured notes at maturity. The notes had a principal balance of $20,000,000 and a fixed interest rate of 3.80%.

In October 2025, the Company repaid two maturing senior unsecured notes totaling $75,000,000. Senior unsecured notes with a principal balance of $25,000,000 had a fixed interest rate of 3.97%. The other senior unsecured notes with a principal balance of $50,000,000 had a fixed interest rate of 3.99%. Both payments were made at maturity.

In November 2025, the Company entered into a term loan agreement, separated into two tranches. One tranche provides a $100,000,000 term loan with a term of approximately 4.5 years and an effectively fixed interest rate of 4.11% with interest-only payments. The second tranche provides a $150,000,000 term loan with a term of approximately 5.5 years and an effectively fixed interest rate of 4.15% with interest-only payments. At the Company's option, the term loans bear interest at an annual rate of the Daily Simple SOFR (as defined in the term loan agreement) plus an applicable margin (0.85% as of December 31, 2025) based on the Company’s senior unsecured long-term debt rating. The Company also entered into interest rate swap agreements to convert the loans' SOFR rate component to a fixed interest rate for the entire terms of the loans, providing effectively fixed interest rates for each loan.

During the year ended December 31, 2024, EastGroup repaid a $50,000,000 senior unsecured term loan at maturity with an effectively fixed interest rate of 4.08%. The Company also made principal repayments at maturity of $120,000,000 on its senior unsecured notes with a weighted average fixed interest rate of 3.47%. The Company did not enter into or refinance any unsecured debt agreements during the year ended December 31, 2024.

During the year ended December 31, 2023, EastGroup closed on a $100,000,000 unsecured term loan with an effectively fixed interest rate of 5.27%. The Company refinanced a $100,000,000 unsecured term loan, reducing the interest rate by 45 basis points. EastGroup repaid a $65,000,000 unsecured term loan with an effectively fixed interest rate of 2.31%. The Company also made a scheduled $50,000,000 principal repayment on its senior unsecured notes with a fixed interest rate of 3.80%.

The Company’s unsecured debt instruments have certain restrictive covenants, such as maintaining debt service coverage and leverage ratios and maintaining insurance coverage, and the Company was in compliance with all of its financial debt covenants at December 31, 2025 and 2024.

The Company currently intends to repay its debt obligations, both in the short-term and long-term, through its operating cash flows, borrowings under its unsecured bank credit facilities, proceeds from new debt (primarily unsecured), and/or proceeds from the issuance of equity instruments.

Scheduled principal payments on long-term debt, including Unsecured debt, net of debt issuance costs (not including Unsecured bank credit facilities, net of debt issuance costs), as of December 31, 2025 are as follows:


MATURITY DATES	Principal Payments Maturing
	(In thousands)
2026	$	140,000
2027	175,000
2028	160,000
2029	155,000
2030	300,000
Thereafter	685,000
Total unsecured debt, before amortization of debt issuance costs	$	1,615,000