hard · Private Credit & Debt
In an LBO debt schedule, a 50m mezzanine tranche carries a 5% cash coupon and 4% Payment-in-Kind (PIK) interest.
Assuming no principal is repaid, what is the closing balance of the mezzanine debt at the end of Year 2?
- 59.00m
- 50.00m
- 54.08m
- 54.00m
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