Annual report pursuant to Section 13 and 15(d)

Unsecured Lines Of Credit Payable (Tables)

v2.4.0.6
Unsecured Lines Of Credit Payable (Tables)
12 Months Ended
Dec. 31, 2012
Unsecured Debt [Abstract]  
Lines Of Credit Unused And Available
The amounts of these lines of credit unused and available at December 31, 2012 were as follows (in thousands):
 
Credit Facility No. 1
 
Credit Facility No. 2
Committed capacity
$
100,000

 
$
400,000

Borrowings outstanding

 

Letters of credit issued
(815
)
 

Unused and available
$
99,185

 
$
400,000

Repayments And Borrowings On Unsecured Lines Of Credit
We executed borrowings and repayments on the unsecured lines of credit during 2012 as follows (in thousands):
 
Credit Facility No. 1
 
Credit Facility No. 2
Balance at December 31, 2011
$
74,000

 
$
25,000

Borrowings

 
158,000

Repayments
(74,000
)
 
(183,000
)
Balance at December 31, 2012
$

 
$

Interest Expense, Line of Credit Facilities
For the three years ended December 31, 2012, we recognized interest expense (excluding facility fees) as follows (in thousands):
 
Year Ended December 31,
 
2012
 
2011
 
2010
Credit Facility No. 1
$
470

 
$
355

 
$
91

Credit Facility No. 2
783

 
2,735

 
2,684

Facility Fees, Line of Credit
For the three years ended December 31, 2012, we incurred facility fees as follows (in thousands):
 
Year Ended December 31,
 
2012
 
2011
 
2010
Credit Facility No. 1
$
175

 
$
114

 
$
114

Credit Facility No. 2
887

 
658

 
398

Schedule of Revolving Credit Facilities Covenant Compliance
Information related to revolving credit facilities for the three years ended December 31, 2012 as follows (in thousands, except percentage amounts):
 
Year Ended December 31,
 
2012
 
2011
 
2010
Total revolving credit facilities at December 31
$
500,000

 
$
475,000

 
$
337,000

Borrowings outstanding at December 31

 
99,000

 
100,000

Weighted average daily borrowings during the year
108,589

 
160,090

 
112,573

Maximum daily borrowings during the year
242,000

 
281,000

 
141,000

Weighted average interest rate during the year
1.15
%
 
1.90
%
 
2.43
%
Weighted average interest rate on borrowings outstanding at December 31
n/a

 
0.90
%
 
2.53
%