| Schedule of Term Loans and Notes Payable |
The following table presents the term loan balances under the 2025 Credit Agreement and the Term Loan Facility.
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Outstanding Balance |
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(Dollars in thousands) |
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Maturity Date |
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Interest Rate (a) |
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June 30,
2026 |
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December 31,
2025 |
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Term Loans: |
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Term loan due 2026 |
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Nov 2026 |
(b) |
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4.62 |
% |
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$ |
100,000 |
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$ |
100,000 |
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Term loan due 2027 |
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Feb 2027 |
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4.57 |
% |
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90,000 |
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90,000 |
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Term loan due 2027 |
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Mar 2027 |
(b) |
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4.57 |
% |
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85,000 |
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85,000 |
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Term loan due 2028 |
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Feb 2028 |
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4.57 |
% |
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90,000 |
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90,000 |
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Term loan due 2029 |
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Feb 2029 |
(b) |
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4.57 |
% |
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225,000 |
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225,000 |
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Term loan due 2033 |
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Apr 2033 |
(c) |
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4.92 |
% |
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50,000 |
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— |
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Total Term Loans |
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$ |
640,000 |
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$ |
590,000 |
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(a)Loans reset at Daily Simple SOFR + the applicable credit spread of 0.95% to 1.25% at June 30, 2026. (b)Loan has one twelve month extension option exercisable at the Company's discretion, subject to certain conditions. (c)Total outstanding principal balance will be $200 million under the loan agreement once fully drawn. The following table presents the senior unsecured fixed rate notes balance.
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Outstanding Balance |
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(Dollars in thousands) |
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Maturity
Date |
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Interest
Rate |
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June 30,
2026 |
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December 31,
2025 |
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Notes Payable: |
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Senior unsecured fixed rate note, issued December 2018 |
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Dec 2026 |
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4.63 |
% |
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$ |
50,000 |
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$ |
50,000 |
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Senior unsecured fixed rate note, issued June 2017 |
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Jun 2027 |
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4.93 |
% |
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75,000 |
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75,000 |
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Senior unsecured fixed rate note, issued December 2018 |
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Dec 2028 |
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4.76 |
% |
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50,000 |
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50,000 |
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Senior unsecured fixed rate note, issued April 2021 |
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Apr 2029 |
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2.74 |
% |
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50,000 |
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50,000 |
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Senior unsecured fixed rate note, issued March 2020 |
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Jun 2029 |
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3.15 |
% |
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50,000 |
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50,000 |
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Senior unsecured fixed rate note, issued March 2020 |
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Apr 2030 |
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3.20 |
% |
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75,000 |
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75,000 |
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Senior unsecured fixed rate note, issued March 2022 |
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Mar 2031 |
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3.09 |
% |
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50,000 |
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50,000 |
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Senior unsecured fixed rate note, issued April 2021 |
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Apr 2031 |
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2.99 |
% |
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50,000 |
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50,000 |
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Senior unsecured fixed rate note, issued March 2022 |
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Mar 2032 |
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3.11 |
% |
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75,000 |
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75,000 |
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Senior unsecured fixed rate note, issued July 2023 |
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Jul 2033 |
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6.44 |
% |
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100,000 |
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100,000 |
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Total Notes |
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$ |
625,000 |
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$ |
625,000 |
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| Schedule of Maturities of Long-Term Debt |
The following table presents scheduled principal payments related to the Company’s debt.
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(In thousands) |
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June 30, |
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Remainder of 2026(a) |
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$ |
150,000 |
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2027(a) |
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250,000 |
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2028 |
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140,000 |
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2029 |
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325,000 |
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2030 |
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75,000 |
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Thereafter |
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325,000 |
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Total Scheduled Principal Payments |
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$ |
1,265,000 |
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(a) As of July 30, 2026, the $100 million term loan due November 2026 and the $90 million term loan due February 2027 have been repaid in full. See Note 14 - Subsequent Events for additional information.
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