This page demonstrates how to model a case where there are multiple currencies and multiple debt issues. The case demonstrates how you can compute the effective yield in alternative currencies using the formula:
alternative currency interest rate = (1+other currency interest rate) * percent change in exchange rate – 1
along with the sculpting formula for the capture debt issue:
Debt service capture = Aggregate Dedibt Service/DSCR – Other Debt Service
Finally you can use the equation for the aggregate debt IRR from the aggregate debt service which includes a circular reference. I will continue this discussion, but for now I have included an example spreadsheet and also a video.
Excel File with Sculpting Example that Includes Multiple Currencies as well as Multiple Debt Issues
Excel File with Exercise for Sculpting Example that Includes Multiple Currencies as well as Multiple Debt Issues