The company said it issued $350.0 million of fixed-rate senior unsecured notes due April 12, 2023 May 1, 2028, bearing 5.375% interest, and that net proceeds after issuance discount and other costs were $345.7 million.

1. 01

   The company said it issued $350.0 million of fixed-rate senior unsecured notes due April 12, 2023 May 1, 2028, bearing 5.375% interest, and that net proceeds after issuance discount and other costs were $345.7 million.

2. 02

   The company said it sold 1,372,889 common shares during 2023 at a weighted average price of $101.89 per share, for net cash proceeds of $138.3 million. It said it could issue up to an additional $312.1 million of common shares under its ATM program as of December 31, 2023.

3. 03

   The company said that on December 28, 2023 it entered into a $200.0 million mortgage loan secured by its Bethesda Row property, bearing interest at SOFR plus 95 basis points. The interest rate is effectively fixed at 5.03% through the initial maturity date, through 3 interest rate swap agreements.

4. 04

   The company said net cash used in financing activities was $33.8 million in 2023 (compared with $190.4 million provided in 2022). As of December 31, 2023, of the debt maturing within the next 12 months totaling $1.2 billion, $600.0 million was repaid at maturity on January 2024, and the $600.0 million term loan was extended by 1 year(s) to April 2025.

Key figures

Fiscal year ended December 31, 2023

Revenue

$1.1B

Operating income

$406M

Net income

$237M

EPS

$2.80

Operating cash flow

$556M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.