medium · Corporate Credit Analysis credit-metrics
A unitranche facility of $250 million is priced at SOFR + 625 bps. Internally, the lenders split this into a 175 million 'first-out' piece at SOFR + 450 bps and a 75 million 'last-out' piece.
What is the implied spread for the last-out piece?
- 1,033 bps
- 1,250 bps
- 625 bps
- 800 bps
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