medium · Private Credit & Debt documentation-covenants-terms
A unitranche facility of $100,000,000 is structured with a $70,000,000 'first-out' tranche at a rate of SOFR + 350 bps and a $30,000,000 'last-out' tranche at SOFR + 850 bps.
If SOFR is currently 4.00%, what is the blended coupon rate for the borrower?
- 10.00%
- 5.00%
- 7.50%
- 9.00%
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