What percentage can ebit fall before they can no longer meet

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Assignment

Nile Holdings

Last Years EBIT

$300,000,000

expected EBIT

$333,000,000

Current Portion of existing LT debt

$46,250,000

Interest Due (2017) on Exisiting Debt

$75,000,000

Tax Rate

40%

Times Interest Earned

4

Common Stock Price per share

$50

Commonshares Outstanding

25,000,000.00

Dividends per share

$2.50

A) Assume Nile raises $100 million of new debt at the end of 2016, at an interest rate of 8.25%.

a. Calculate the firm's pro forma 2017 times-interest-earned (TIE) ratio.
b. Calculate 2017's times-burden-covered ratio.
c. What percentage can EBIT fall before they can no longer meet there annual burden?
d. Calculate 2017's earnings per share.

B) Now assume Nile sells 2 million new shares at $50 a share instead of raising new debt.

a. Calculate the firm's pro forma 2017 times-interest-earned (TIE) ratio.
b. Calculate 2017's times-burden-covered ratio
c. What percentage can EBIT fall before they can no longer meet there annual burden?
d. Calculate 2017's earnings per share

C. Comparing parts A and B, would you recommend they issue Debt or Equity?

Reference no: EM131606556

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