easy · Private Credit documentation-covenants-terms
A 20.0M term loan is issued with a2.0% Original Issue Discount (OID). The interest rate is SOFR + 500 bps and the tenor is 5 years.
How much cash does the borrower actually receive at closing from this tranche?
- $20.0M
- $19.0M
- $18.0M
- $19.6M
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