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What is effective interest cost for first year for petrol?

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Reference no: EM132841058

Problem 1: Petrol? Ibérico, a European gas? company, is borrowing ?$600,000,000 via a syndicated eurocredit for six years at 100 basis points over LIBOR. LIBOR for the loan will be reset every six months. The funds will be provided by a syndicate of eight leading investment? bankers, which will charge? up-front fees totaling 1.2?% of the principal amount. What is the effective interest cost for the first year if the annual LIBOR is 4.40?% during the first six months and 4.70?% during the second six months?

Reference no: EM132841058

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