To calculate CapEx facility interest, we first start off with a base rate. To get this, we go off to our input tab And our base rate is going to be LIBOR. But we've also got a floor given and we'll have to choose between that and LIBOR, let's go up and find CapEx facilities floor and it's 0%. I'll be taking the maximum of those two and then adding on a margin. So let's go grab that margin CapEx facility 4%. I'll make sure that I'm locking each of these. So calculating my interests, take the maximum of the top two items, and then I add on the 4%, getting me 4.5. Great. I can calculate my interest. That interest is going to be the negative of that 4.5 multiplied by the average. And we have to be very careful here of our CapEx facilities closing balances. So I take last year's closing balance and this year's closing balance, but that's not all with CapEx. We also have an undrawn portion, a facility available to us. We still need to pay a commitment fee on that. So we go off to the input tab. Again, we've got that all the way down in row 26, there's our commitment fee and I'll lock that and I can calculate they're negative of that times by the average of their closing undrawn portion balances.

I then add the interest expense and the commitment fee.

Now I'm going to copy that to the right, just one column, but I have to remember that the interest expense figures in the period to December 18, we only want three months worth of that. So I'm gonna multiply this by the post deal percent. That post deal percent is 3 over 12 because we only owned the company for 3 twelfths of the year. I need to do exactly the same for the commitment fee.

And now the period to December 18 is correct and the period to December 19 is correct, we don't need the post deal percent there. Great. So that gets us through the CapEx facility. I need to scroll all the way up to get to my interest income. So I'm up in row 44 and here we've got our interest income.

I'll be doing the whole calculation in this cell. So I firstly need to go get my interest rate from the input tab. We've got that as interest on cash in row 22, C22 in fact. I'm going to lock that and I'm going to multiply that by the average of two figures. And I need to go to the deal date tab. Here. I can find the cash that we had immediately post deal and the cash we had at the year end.

So that's deal date, H61 and I61 because it's just for three months. I need to multiply it by the post deal percent and i get a figure of zero.

The net cash interest expense or income is then going to be the interest expense given as a negative plus the interest income. However, that will create a circular on this sheet because all of these interest items above affect how much cash we've got available to pay off debt. But that debt determines how much interest we pay. So I'm gonna have to use a switch here. I'm gonna say if the switch, and that's a cell that we've named and it's on the info tab, if that switch equals our 1, then I want to take the interest expense plus interest income. However, if that's not the case, it switches a 0, then I want to just hard code a 0 in here and that will avoid the circular unless I want to turn it on and create the circular.

Now I can copy that to the right, but with the interest income, I need to be a little more careful. If I copy that to the rights, firstly, I can get rid of this post deal percent. We don't need that in this year. But also the deal date I61 to J61, that's coming from the deal date tab that's looking at the stub period. We don't want that. So I'm going to replace that by going to the deal model tab. Looking for the cash figures here, and that's I55 to J55. That's now all done and I can copy all of those figures from column J to the right.