medium · Debt Capital Markets primary-issuance-syndication
In a bridge takeout, what is 'carry' cost for the issuer?
- The profit a lead bank books from holding the bridge loan on its own balance sheet.
- The interest expense incurred on the new bonds before the bridge loan is officially retired.
- The aggregate of all fees paid out to external legal counsel and the deal accountants.
- The logistical cost of physically transporting printed bond certificates out to subscribing investors.
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