Maturities

ARE's balance sheet is strong with first maturities in 2025, but the company's financing strategy reduces the benefit of distant debt maturities, creating an exposure to increased cost of debt levels.

At launch, about half the holdings were notes with maturities of one year or less, and the other half was invested in notes with maturities of one to five years.

According to data from Bloomberg, at the end of the quarter bonds with maturities over 10 years were down 46% since their highs in March of 2020.

And then just given where you think rates are today and you think about the maturities in 2024 even -- any idea in terms of when you look to address that?

And then your slides were really helpful on Slide 18 and 19 where you gave some detail on maturities in the office book.

As indicated in the last column, our expected long-term debt issuance over this period are approximately $4.5 billion, mainly to refinancing existing long-term debt maturities.

At year-end, our weighted average cost of debt was approximately 3% and the weighted average maturity on our debt portfolio was approximately 6 years with no significant debt maturities until 2026.

BSV holds 2667 corporate and treasury investment-grade bonds with maturities dates between 1-5 years away.

But you can also diversify your bond holdings by owning a group of individual bonds with different maturities: short-, intermediate- and long-term.

By definition, the yield curve shows interest rates at various maturities.

China argues it has offered relief in the form of extended loan maturities and emergency loans and as the biggest contributor to a program to temporarily suspend interest payments during the coronavirus pandemic.

Corporations also have taken advantage of low pandemic-era rates and termed out their debt; 60% of maturities at larger companies won't come due until 2030 at the earliest.

Current real bond yields, (i.e. the yield on TIPS) are positive across the entire span of maturities.

Earlier this month, the company successfully replenished liquidity and extended near-term debt maturities at reasonable terms.

In the context of all this, more distant and staggered debt maturities come in handy to mitigate the risk of introducing overly expensive debt capital in the overall capital structure.

JPMorgan, in a recent research note, deemed the current financial year as critical for Vedanta Resources, as it grapples with debt maturities and interest payments totaling $4.1 billion at the holding-company level.

Moreover, REIT balance sheets are strong with low debt and long maturities, reducing the impact even if interest rates remain high for years.

On the bright side, Douglas Emmett has 87% of its debt at fixed interest rates and will not face any debt maturities until the end of next year.

On the other hand, BEP appears to be in a more favorable position, with limited near-term maturities and a lower risk of substantial refinancing at higher rates.

On the right side, you see the debt maturities.