The revolving credit facility starts with last period's closing balance. I press equals and I can find that on the Deal Date tab.

I go to the balance sheet there and on the balance sheet I scroll down, I find the revolving credit facility and I can see immediately post deal, we had an RCF of 20. Now I also had an undrawn portion. If we go to the input tab and I scroll down, I can see that I've got a revolving credit facility of 100. Now I'm going to lock that but the undrawn portion of it must be that 100 minus the 20 we've already got. So I subtract off the 20. Leave me with 80.

Okay, my opening balance must be the 20 and I need to decide how much to draw down. Well, I'll start that by using an if function. I want to say if my cash flow available for RCF, refinance, and sweep, if that is below zero, I want to take the minimum of the undrawn portion or the amounts required because it's shown as a negative, I want to use a negative to turn it into a positive. However, if I58 isn't a negative, I just want a zero in there and I get a zero. Let's check that it's works. Let's make it negative, see what happens. Fantastic, it's a negative five. I then pay out five. What about any repayment? Well, again, I want to start with that if function. I want to say if this is greater than zero means I've got cash available and I can spend it paying off the revolver. I want to pay off the minus minimum of my opening balance plus any drawdown versus the cash I've got available.

But if I58 is not greater than zero, then I just want to repay zero.

This time I had 20 opening balance and had more than that available in cash, so I was able to pay it off. Let's just check if I'd made that a 15 of cash. I only repay off 15. Very good. So my closing balance is the sum of the items above and my undrawn portion, I can just copy from the right, seeing as my closing balance is zero. My undrawn portion must now be 100.

I'm going to skip over the revolving credit facilities interest and go straight onto the cash flow before refinance and sweep. So I had 30.3, I did a drawdown of zero, but I also repaid 20, getting me to 10.3.

We now go onto the refinance facility. The refinance facility, I need to find its closing balance last period. Now that's gonna be zero 'cause at the start of the deal we had nothing and I can find that on the input tab.

Go to the input tab. It's up to the right hand side here, refinance facility drawn down of zero. That's my closing balance, last period and my beginning balance this period. Now how much do I then draw down? Well, I'm gonna use that minus min function again. I had 10.3 of cash flow and I had zero opening balance. Therefore, I don't need to draw down any and I don't need to repay any either. So let's just stress test that quickly. If I had a negative five hit, great, I will draw down five and if I had an opening balance of two, I would pay off the two. I skip over the interest. We'll do that later on. But my cash flow available before the sweep well, I had 10.3 and I spent zero drawing down or repaying.