Cost calculator

Work through the cash flows.

An illustrative single-draw financing. Every input is your assumption; the result is not an estimate for an actual operator.

Assumptions

Initial principal ($m)Total commitment ($m)Term (months)Constant benchmark (%)Margin (basis points)Benchmark floor (%)Issue price (% of face)Upfront fee (% of face)Undrawn fee (basis points)Locked reserve (% of face)Extra hedge cost (basis points)Principal repayment

Repayment schedule

USD millions · rounded for display

Date	Principal	Interest	Unused fee	Hedge cost	Reserve release	Net cash flow

Assumptions and model boundaries

The model starts on 21 October 2026 and uses monthly dates on day 21. Interest accrues on actual days divided by 365. IRR discounting also uses ACT/365F.

There is one initial draw and a constant benchmark rate. The unused commitment remainder stays undrawn until maturity; repaid principal is not made available for redrawing. A locked, non-interest-bearing reserve is released at maturity. Extra hedge cost is incremental to the interest rate.

The model excludes tax, changing rate curves, prepayments, conversion rights, warrants and complex covenants. It withholds the rate if it cannot identify a unique IRR within its tested search range of −99.9% to 10,000%. Values displayed as zero are assumptions, not disclosures about any financing.

Read the financing-cost methodology →