Quarterly report pursuant to Section 13 or 15(d)

Debt (Tables)

v3.21.2
Debt (Tables)
6 Months Ended
Jun. 30, 2021
Debt [Abstract]  
Lines-Of-Credit And Notes Payable As of June 30, 2021 December 31, 2020 Balance Interest‎Rate Carrying‎Amount of‎Pledged‎Assets Balance Interest‎Rate Carrying‎Amount of‎Pledged‎Assets NBA Éilan Loan $ — —   $ — $ 15,903 4.75% $ 28,491Fifth Third Syndicated LOC 20,000 2.25% 38,616 30,000 2.25% 50,822Fifth Third Syndicated Term 91,250 2.25% 176,184 93,750 2.25% 158,817Unamortized debt issuance costs (1,036) —   — (1,267) —   — Total $ 110,214 $ 214,800 $ 138,386 $ 238,130
Receivable-Backed Notes Payable Financial data related to our receivable-backed notes payable facilities as of June 30, 2021 and December 31, 2020 was as follows (dollars in thousands): As of June 30, 2021 December 31, 2020 Debt‎Balance Interest‎Rate Principal‎Balance of‎Pledged/‎Secured‎Receivables Debt‎Balance Interest‎Rate Principal‎Balance of‎Pledged/‎Secured‎Receivables Receivable-backed notes‎   payable - recourse: Liberty Bank Facility $ 10,000 3.40% $ 14,237 $ 10,000 3.40% $ 13,970NBA Receivables Facility 12,076 3.00% 16,978 19,877 3.32% 26,220Pacific Western Facility 10,000 3.06% 14,354 8,623 3.15% 13,131 Total 32,076 45,569 38,500 53,321 Receivable-backed notes‎   payable - non-recourse: Liberty Bank Facility (1) $ 2,591 3.40% $ 3,689 $ 2,316 3.40% $ 3,235NBA Receivables Facility (2) 23,738 3.00% 33,375 11,985 3.32% 15,809Pacific Western Facility (3) 8,268 3.06% 11,868 — — —KeyBank/DZ Purchase Facility 33,555 2.50% 40,760 — — —Quorum Purchase Facility 24,791 4.75-5.10% 28,796 29,788 4.75-5.10% 34,6512013 Term Securitization 8,729 3.20% 9,848 11,922 3.20% 13,4832015 Term Securitization 18,281 3.02% 19,341 22,560 3.02% 24,4752016 Term Securitization 29,749 3.35% 33,163 35,700 3.35% 40,2212017 Term Securitization 43,792 3.12% 50,094 51,470 3.12% 58,9072018 Term Securitization 62,433 4.02% 71,443 72,486 4.02% 84,4542020 Term Securitization 106,233 2.60% 121,583 123,600 2.60% 139,052Unamortized debt issuance costs (4,998) --- — (5,994) --- — Total 357,162 423,960 355,833 414,287Total receivable-backed debt $ 389,238 $ 469,529 $ 394,333 $ 467,608 (1)Recourse on the Liberty Bank Facility is limited to $10.0 million, subject to certain exceptions. (2)Recourse on the NBA Receivables Facility was reduced to $12.1 million as of June 30, 2021 and will be reduced by $1.3 million per month until it reaches a floor of $10.0 million. (3)Recourse on the Pacific Western Facility was limited to $10.0 million as of June 30, 2021, subject to certain exceptions. This amount was subsequently decreased to $7.5 million, subject to certain exceptions, as discussed below.
Junior Subordinated Debentures Outstanding Financial data relating to the Company’s junior subordinated debentures as of June 30, 2021 and December 31, 2020 was as follows (dollars in thousands): June 30, 2021 December 31, 2020 Effective Effective Carrying Interest Carrying Interest MaturityAmounts Rates (1) Amounts Rates (1) Years (2)Woodbridge - Levitt Capital Trusts I - IV $ 66,302 3.99 - 4.05% $66,302 4.01 - 4.04% 2035 - 2036Bluegreen Statutory Trusts I - VI 104,596 4.99 - 5.10% 110,827 5.01 - 5.12% 2035 - 2037Unamortized debt issuance costs (1,022) (1,057) Unamortized purchase discount (35,428) (37,895) Total junior subordinated debentures$ 134,448 $ 138,177 (1)The junior subordinated debentures bear interest at three-month LIBOR (subject to quarterly adjustment) plus a spread ranging from 3.80% to 4.90%.(2)As of June 30, 2021 and December 31, 2020, all of the junior subordinated debentures were eligible for redemption by two wholly owned subsidiaries of the Company.