Fixed Income
<span>Fixed</span> Income Supplemental
Debt Covenants
In Thousands
| Debt Covenant Type | Covenant | this is just a separator cell | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 |
|---|---|---|---|---|---|---|---|
| Maximum Leverage Ratio | <60% | 25%–29% | 25%–29% | 24%–27% | 20%–22% | 20%–22% | |
| Maximum Secured Leverage Ratio | <40/45% | 1% | 1% | 1% | 1% | 1% | |
| Minimum Tangible Net Worth | $6,698,385 | $9,334,951 | $9,227,521 | $9,185,688 | $9,023,064 | $8,579,063 | |
| Minimum Fixed Charge Coverage Ratio | at least<br> 1.50 to 1.00 | 4.87 to 1.00 | 5.39 to 1.00 | 4.02 to 1.00 | 6.28 to 1.00 | 6.10 to 1.00 | |
| Unencumbered Leverage Ratio | <60% | 27%-30% | 27%–31% | 28%–31% | 20%–23% | 21%–23% | |
| Unencumbered Interest Coverage Ratio | at least<br> 1.75 to 1.00 | 5.50 to 1.00 | 5.44 to 1.00 | 5.30 to 1.00 | 7.87 to 1.00 | 7.70 to 1.00 |
Balance Sheet and Liquidity
Components of Liquidity
- +$995M Revolving Credit Facility
- +$614M Forward Equity Proceeds for Settlement
- +$62M Cash on Hand
<span>$1.7B Total Liquidity</span> (as of 10/15/24)
Well-Staggered Debt Maturities
Debt Maturity Schedule <span>In Millions</span>
- 3.8% weighted average interest rate
- 4.0 years weighted average maturity
Well-Staggered Debt Maturities
Show Data
| Year | Mortgage Debt | Secured Term Loan | Unsecured Term Loan/LOC | Unsecured Notes |
|---|---|---|---|---|
| 2024 | $6 | -- | -- | -- |
| 2025 | -- | -- | -- | $100 |
| 2026 | $10 | -- | -- | $397 |
| 2027 | $20 | $60 | $300 | $700 |
| 2028 | $14 | -- | -- | $300 |
| 2029 | -- | -- | -- | $600 |
| 2030 | -- | -- | -- | $400 |
| 2031 | $2 | -- | -- | $400 |
| 2032+ | $3 | -- | -- | $75 |
All information as of 9/30/2024 unless otherwise noted; See Fixed Income Supplemental for more detail.