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What is the effective annual cost for the first six months

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Problem - The lockdown of 2020 has turned many people into alcoholics. You decide to place an order for Boll & Cie champagne for distribution and for consumption (mostly for consumption). You finance this with a eurocurrency loan for EUR 116. This is a 2 year loan. You choose Deutsche Bank (DB) as the syndicate lead because they will probably be bankrupt soon and you might skirt your debts. DB charges a syndication fee of 1.3%. The interest rate is set as LIBOR +1.79. The initial LIBOR rate is 4.9. Interest is payble semi-annually. What is the effective annual cost for the first six months?

Reference no: EM132978204

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