Quarterly report pursuant to Section 13 or 15(d)

SENIOR AND CONVERTIBLE SENIOR NOTES, NET (Tables)

v3.4.0.3
SENIOR AND CONVERTIBLE SENIOR NOTES, NET (Tables)
3 Months Ended
Mar. 31, 2016
Debt Disclosure [Abstract]  
Schedule of Senior and Convertible Senior Notes, Net
Loans payable and other borrowings consist of the following (in thousands):
 
 
As of
 
 
March 31, 2016
 
December 31, 2015
Other borrowings, real estate note payable (1)
 
$
25,734

 
$
23,867

$500 million unsecured revolving credit facility, maturing July 2019, with interest approximating LIBOR (approximately 0.44% at March 31, 2016) plus 1.75% or Prime (3.50% at March 31, 2016) plus 0.75%
 

 

Total
 
$
25,734

 
$
23,867

(1)
Reflects balance of non-recourse notes payable in connection with land purchases, with interest rates ranging from 0% to 6%.
Senior and convertible senior notes, net consist of the following (in thousands):
 
 
As of
 
 
March 31, 2016
 
December 31, 2015
4.50% senior notes due 2018
 
$
175,000

 
$
175,000

7.15% senior notes due 2020. At March 31, 2016 and December 31, 2015 there was approximately $2,275 and $2,418 in net unamortized premium, respectively
 
302,275

 
302,418

7.00% senior notes due 2022
 
300,000

 
300,000

6.00% senior notes due 2025
 
200,000

 
200,000

1.875% convertible senior notes due 2032 (1)
 
126,500

 
126,500

Net debt issuance costs (2)
 
$
(10,116
)

$
(10,745
)
Total
 
$
1,093,659

 
$
1,093,173


(1)
The Convertible Notes may be redeemed by the note-holders on the fifth, tenth and fifteenth anniversary dates of the issuance date of the Convertible Notes (September 18, 2012).
(2)
As discussed in Note 1, the adoption of ASU 2015-03 resulted in a retrospective reclassification of our debt costs from Prepaids, other assets and goodwill to Senior and convertible senior notes, net on our December 31, 2015 balance sheet in the amount of $10.7 million.