Annual report pursuant to Section 13 and 15(d)

Unsecured Lines Of Credit Payable (Tables)

v2.4.1.9
Unsecured Lines Of Credit Payable (Tables)
12 Months Ended
Dec. 31, 2014
Unsecured Debt [Abstract]  
Lines Of Credit Unused And Available
The amounts of these lines of credit unused and available at December 31, 2014 were as follows (in thousands):
 
Credit Facility No. 1
 
Credit Facility No. 2
Committed capacity
$
100,000

 
$
400,000

Borrowings outstanding
(5,000
)
 
(45,000
)
Letters of credit issued

 

Unused and available
$
95,000

 
$
355,000

Repayments And Borrowings On Unsecured Lines Of Credit
We executed borrowings and repayments on the unsecured lines of credit during 2014 as follows (in thousands):
 
Credit Facility No. 1
 
Credit Facility No. 2
Balance at December 31, 2013
$

 
$

Borrowings
10,000

 
45,000

Repayments
(5,000
)
 

Balance at December 31, 2014
$
5,000

 
$
45,000

Facility Fees and interest expense, Line of Credit
For the three years ended December 31, 2014, we recognized interest expense (excluding facility fees) and facility fees as follows (in thousands):
 
Year Ended December 31,
 
2014
 
2013
 
2012
Interest expense (excluding facility fees)
$
196

 
$
867

 
$
1,253

Facility fees
1,267

 
1,267

 
1,062

Schedule of Revolving Credit Facilities Covenant Compliance
Information related to revolving credit facilities for the three years ended December 31, 2014 as follows (in thousands, except percentage amounts):
 
Year Ended December 31,
 
2014
 
2013
 
2012
Total revolving credit facilities at December 31
$
500,000

 
$
500,000

 
$
500,000

Borrowings outstanding at December 31
50,000

 

 

Weighted average daily borrowings during the year
12,849

 
61,548

 
108,589

Maximum daily borrowings during the year
55,000

 
135,000

 
242,000

Weighted average interest rate during the year
1.53
%
 
1.41
%
 
1.15
%
Weighted average interest rate on borrowings outstanding at December 31
1.37
%
 
N/A

 
N/A