- Debt to
market capitalization at December 31, 2007 of 56.8% based on stock
price of $36.98
|
- Interest coverage ratio for
4Q07 was 2.5 times and for the year ended
December 31, 2007 was 2.5 times
|
- Fixed charge
coverage ratio after principal amortization for 4Q07 was 1.8 times
and for the year ended December 31, 2007 was
1.7 times
|
- Modified
fixed charge coverage ratio (interest plus preferred) for 4Q07
was 2.3 times and for the year ended December 31, 2007 was 2.3
times
|
-
$212 million
in unsecured bank lines of credit at average interest rate of 6%
|
-
$140 million of unsecured debt is hedged at a
weighted average rate of 5.8%
|
- $715 million
in mortgage debt at an average interest rate of 5.8%; Parkway's
share of unconsolidated joint venture long term
debt is $10 million; Minority interest share of
long-term debt is $120 million
|
-
In December, Parkway exercised $96 million of
the $110 million accordion feature of its
existing unsecured bank credit facility. The Company’s credit facility
increased from $200 million to $296 million and
is comprised of a $60 million term loan maturing
April 2011 and a $236 million revolving loan
maturing in April 2010. The interest rate on
the credit facility is currently LIBOR plus 130
basis points.
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