Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 21 Feb 2018 My Price 5.00

Lloyd Corporation

EXPECTED INTEREST RATE: Lloyd Corporation’s 14% coupon rate, semiannual payment, $1,000 par value bonds, which mature in 30 years, are callable 5 years from today at $1,050. They sell at a price of $1,353 54, and the yield curve is flat. Assume that interest rates are expected to remain at their current level.

A. What is the best estimate of these bonds’ remaining life?

 

B. If Lloyd plans to raise additional capital and wants to use debt financing, what coupon rate would it have to set in order to issue new bonds at par?

Answers

Maurice Tutor
(5)
Status NEW Posted 21 Feb 2018 09:02 PM My Price 5.00

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