Company: EGP
Filing Date: 2025-02-12
Form Type: 10-K
Source: 0000049600-25-000019
Chunk: 39

Company: EASTGROUP PROPERTIES INC
Filing Date: 2025-02-12
Form: 10-K
Item: Item 15
Chunk 39
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32% in 2022.  Amortization of facility fees was $1,012,000, $1,005,000 and $713,000 for 2024, 2023 and 2022, respectively.  Amortization of debt issuance costs for the Company’s unsecured bank credit facilities was $1,036,000, $1,003,000 and $650,000 for 2024, 2023 and 2022, respectively.The Company’s unsecured bank credit facilities have certain restrictive covenants, such as maintaining minimum debt service coverage and leverage ratios and maintaining insurance coverage, and the Company was in compliance with all of its financial debt covenants at December 31, 2024 and 2023.

(6)UNSECURED DEBT

The Company’s unsecured debt is detailed below:  December 31, 20242023 (In thousands)Unsecured debt - fixed rate, carrying amount (1)$1,510,000 1,680,000 Unamortized debt issuance costs(2,843)(3,653)Unsecured debt, net of debt issuance costs$1,507,157 1,676,347 (1)These loans have a fixed interest rate or an effectively fixed interest rate due to interest rate swaps.

60

EASTGROUP PROPERTIES, INC. AND SUBSIDIARIESNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

A summary of the carrying amount of Unsecured debt follows: Balance at December 31,MarginInterest RateMaturity Date20242023(In thousands)$50 Million Unsecured Term Loan (1)0.94%4.08%08/30/2024$— 50,000 $60 Million Senior Unsecured NotesNot applicable3.46%12/13/2024— 60,000 $60 Million Senior Unsecured NotesNot applicable3.48%12/15/2024— 60,000 $50 Million Unsecured Term Loan (1)1.10%1.58%03/18/202550,000 50,000 $20 Million Senior Unsecured NotesNot applicable3.80%08/28/202520,000 20,000 $25 Million Senior Unsecured NotesNot applicable3.97%10/01/202525,000 25,000 $50 Million Senior Unsecured NotesNot applicable3.99%10/07/