SUI · 10-Q · 2026Q1 · Full report
Outstanding Indebtedness
SUN COMMUNITIES INC · 2026-04-28 · Importance 37 · Surprise 6
The company has $1.8 billion of senior unsecured notes outstanding across three issuances: $600.0 million 4.2% due April 2032, $450.0 million 2.3% due November 2028, and $750.0 million 2.7% due July 2031. Carrying amounts at March 31, 2026 totaled $1,787.1 million. The Operating Partnership's obligations to pay principal and interest on these notes are guaranteed on a senior basis by Sun Communities, Inc., and the note guarantees are full and unconditional. The company indicates these unsecured notes are an important component of its long-term financing profile.
Key facts
- As of March 31, 2026, senior unsecured notes outstanding included $600.0 million of 4.2% notes due April 2032 with a carrying amount of $594.3 million, $450.0 million of 2.3% notes due November 2028 with a carrying amount of $448.2 million, and $750.0 million of 2.7% notes due July 2031 with a carrying amount of $744.6 million, totaling $1,800.0 million principal and $1,787.1 million carrying amount.
- GTSC's warehouse line of credit has a maximum borrowing capacity of $275.0 million and as of March 31, 2026 GTSC aggregate carrying amount of debt was $208.8 million, of which Sun Communities' proportionate share is $83.5 million.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| liability | negative | realized | — | As of March 31, 2026, senior unsecured notes outstanding included $600.0 million of 4.2% notes due April 2032 with a carrying amount of… |
| liability | negative | realized | — | GTSC's warehouse line of credit has a maximum borrowing capacity of $275.0 million and as of March 31, 2026 GTSC aggregate carrying amount… |