I’d be curious about how much their interest bill is going to go up in the next few years as they refinance at higher interest rates. This is a business that really benefited from a near zero interest rate policy.
Off the top of my head - like 13.5b coming due between now and 2025. 200bps higher rate would mean 270m incremental interest. More debt due thereafter but who knows where rates are by then
I’d be curious about how much their interest bill is going to go up in the next few years as they refinance at higher interest rates. This is a business that really benefited from a near zero interest rate policy.
Off the top of my head - like 13.5b coming due between now and 2025. 200bps higher rate would mean 270m incremental interest. More debt due thereafter but who knows where rates are by then