Debt Sizing from a Target DSCR
This lesson is part of the course
In this lesson
You size the senior debt the way lenders do: the present value of the debt service that CFADS can cover at the target DSCR, capped by maximum gearing.
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Lessons in this course
- Construction Budget, Sources & Uses and Gearing Locked
- CFADS Build-up: Revenue, Opex & Simplified Tax Locked
- Debt Sizing from a Target DSCR Locked
- Sculpted Repayment: Principal = CFADS ÷ DSCR − Interest Locked
- DSCR & LLCR: Testing an Annuity Repayment Locked
- Cash Flow Waterfall: Debt Service, DSRA & Lock-up Locked
- Equity IRR & NPV: What the Sponsor Earns Locked
- Sensitivities: Production −10 %, Opex +10 % and the Minimum DSCR Locked