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[null,null,null,"Source"]
[null,null,null,"Debt","Euro",null,{"$f":"I51/I48","v":0.87086647705304931},null,{"$f":"I40","v":870.86647705304927},{"$f":"J40","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Equity Investment","Euro",null,null,null,{"$f":"I48-I51","v":129.13352294695073},{"$f":"J48-J51","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total",null,null,null,null,{"$f":"SUM(I51:I52)","v":1000},{"$f":"SUM(J51:J52)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Cash Flow After"]
[null,null,null,"EBITDA ","Euro",null,null,null,{"$f":"I15","v":0},56.099999999999994,57.222000000000008,58.36643999999999,59.533768799999997,60.724444176000006,61.938933059520011,63.177711720710398,64.441265955124621,65.730091274227107,67.044693099711651,68.385586961705883,69.753298700939993,71.148364674958799,72.571331968457983,74.022758607827143,75.503213779983682,77.01327805558337,78.553543616695038,80.124614489028929,81.727106778809514,83.361648914385711,85.028881892673439,86.729459530526896,88.464048721137445,90.233329695560187,92.03799628947138,93.878756215260822,95.756331339566046,97.671457966357366,99.624887125684509,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Interest","Euro",null,null,null,{"$f":"I43","v":0},{"$f":"J43","v":39.188991467387218},39.010573006496564,38.785287253327375,38.510248410496338,38.182425284353286,37.798634431441492,37.355532990334517,36.849611184567287,36.277184481733883,35.634385393150204,34.917154897775021,34.121233473346614,33.242151716922372,32.275220536204536,31.215520892194807,30.057893072841864,28.796925476428008,27.426942882481686,25.941994187000077,24.335839577717927,22.601937124064136,20.733428755302899,18.723125599160525,16.563492651989126,14.24663275021234,11.764269811433275,9.1077313121583785,6.2679299676003239,3.2353445774650527,1.4836132322670891E-13,1.550375827719108E-13,1.6201427399664678E-13,1.6930491632649592E-13,1.7692363756118821E-13,1.8488520125144168E-13,1.9320503530775656E-13,2.0189926189660558E-13,2.1098472868195284E-13,2.204790414726407E-13]
[null,null,null,"Less: Repayment","Euro",null,null,null,{"$f":"I41","v":0},{"$f":"J41","v":3.9648546864589278},5.0063500704265209,6.1119742851341528,7.2849583587344284,8.5286856202621024,9.8466986912662051,11.242706794827328,12.720593396297801,14.284424190748503,15.938455452781831,17.687142765075656,19.535150142761069,21.487359571507469,23.54888097799391,25.725062652287608,28.021502142530196,30.444057643251504,32.998859899591423,35.692324650714482,38.531165636750927,41.522408194694094,44.673403469830518,47.991843270475542,51.485775595039684,55.163620861757025,59.034188872775481,63.106696545734565,67.390786447450481,71.896546165886761,-1.4836132322670891E-13,-1.550375827719108E-13,-1.6201427399664678E-13,-1.6930491632649592E-13,-1.7692363756118821E-13,-1.8488520125144168E-13,-1.9320503530775656E-13,-2.0189926189660558E-13,-2.1098472868195284E-13,-2.204790414726407E-13]
[null,null,null,"Dividends","Euro",null,null,null,{"$f":"I56-I57-I58","v":0},{"$f":"J56-J57-J58","v":12.946153846153848},13.205076923076923,13.469178461538462,13.738562030769231,14.013333271384617,14.293599936812313,14.579471935548554,14.871061374259533,15.168482601744721,15.471852253779616,15.781289298855206,16.096915084832311,16.418853386528959,16.747230454259537,17.082175063344732,17.423818564611622,17.772294935903858,18.127740834621932,18.490295651314369,18.86010156434066,19.23730359562748,19.622049667540026,20.014490660890829,20.414780474108639,20.82307608359082,21.239537605262619,21.664328357367879,22.097614924515241,22.539567223005548,99.624887125684509,0,0,0,0,0,0,0,0,0]
[]
[null,"Summary Analysis - Structuring"]
[]
[null,null,null,"Equity Net Cash Flow","Euro",null,null,null,{"$f":"-I52+I59","v":-129.13352294695073},12.946153846153848,13.205076923076923,13.469178461538462,13.738562030769231,14.013333271384617,14.293599936812313,14.579471935548554,14.871061374259533,15.168482601744721,15.471852253779616,15.781289298855206,16.096915084832311,16.418853386528959,16.747230454259537,17.082175063344732,17.423818564611622,17.772294935903858,18.127740834621932,18.490295651314369,18.86010156434066,19.23730359562748,19.622049667540026,20.014490660890829,20.414780474108639,20.82307608359082,21.239537605262619,21.664328357367879,22.097614924515241,22.539567223005548,99.624887125684509,0,0,0,0,0,0,0,0,0]
[null,null,null,"Equity IRR",{"$f":"IRR(I63:AV63)","v":0.11555769517426473}]
[]
[null,null,null,null,null,null,null,null,{"$f":"IF(I6,I4,NA())","v":{"$error":"#N/A"}},2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[null,null,null,"Cash Flow","Euro",null,null,null,{"$f":"I56","v":0},56.099999999999994,57.222000000000008,58.36643999999999,59.533768799999997,60.724444176000006,61.938933059520011,63.177711720710398,64.441265955124621,65.730091274227107,67.044693099711651,68.385586961705883,69.753298700939993,71.148364674958799,72.571331968457983,74.022758607827143,75.503213779983682,77.01327805558337,78.553543616695038,80.124614489028929,81.727106778809514,83.361648914385711,85.028881892673439,86.729459530526896,88.464048721137445,90.233329695560187,92.03799628947138,93.878756215260822,95.756331339566046,97.671457966357366,99.624887125684509,0,0,0,0,0,0,0,0,0]
[null,null,null,"Debt Service","Euro",null,null,null,{"$f":"I57+I58","v":0},43.153846153846146,44.016923076923085,44.897261538461528,45.795206769230766,46.711110904615389,47.645333122707697,48.598239785161844,49.570204580865088,50.561608672482386,51.572840845932035,52.604297662850676,53.656383616107682,54.72951128842984,55.824101514198446,56.940583544482415,58.07939521537206,59.240983119679512,60.425802782073106,61.634318837714559,62.867005214468854,64.12434531875823,65.406832225133414,66.714968869636067,68.049268247028806,69.410253611969367,70.798458684208754,72.214427857892943,73.658716415050804,75.131890743351818,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Equity IRR",{"$f":"E64","v":0.11555769517426473},"DSCR",{"$f":"F36","v":1.3},null,"Tenure",{"$f":"F34","v":30},"Debt to Capital"]
[]
[null,null,null,"DSCR",null,null,null,null,{"$f":"IF(I68>0,I67/I68)","v":false},{"$f":"IF(J68>0,J67/J68)","v":1.3},1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3000000000000003,1.3,1.3,1.3,1.3,1.3,1.3,1.3,1.3,false,false,false,false,false,false,false,false,false,false]
[]
[null,"Risk Analysis"]
[null,null,"Scheduled Debt Repayment",null,null,null,null,{"$f":"SUM(I75:XFD75)","v":870.8664770530446},{"$f":"I41","v":0},3.9648546864589278,5.0063500704265209,6.1119742851341528,7.2849583587344284,8.5286856202621024,9.8466986912662051,11.242706794827328,12.720593396297801,14.284424190748503,15.938455452781831,17.687142765075656,19.535150142761069,21.487359571507469,23.54888097799391,25.725062652287608,28.021502142530196,30.444057643251504,32.998859899591423,35.692324650714482,38.531165636750927,41.522408194694094,44.673403469830518,47.991843270475542,51.485775595039684,55.163620861757025,59.034188872775481,63.106696545734565,67.390786447450481,71.896546165886761,-1.4836132322670891E-13,-1.550375827719108E-13,-1.6201427399664678E-13,-1.6930491632649592E-13,-1.7692363756118821E-13,-1.8488520125144168E-13,-1.9320503530775656E-13,-2.0189926189660558E-13,-2.1098472868195284E-13,-2.204790414726407E-13]
[]
[null,null,"Operating Period"]
[null,null,"Target Tail",null,"Years",null,4]
[null,null,"Target Repayment",null,null,null,{"$f":"F6-G78","v":26}]
[null,null,"Closing Balance at Target Date",null,null,null,{"$f":"LOOKUP(G79,4:4,107:107)","v":0},"End Debt"]
[null,null,"Repayment in Final Year Scheduled",null,null,null,{"$f":"LOOKUP(G79,4:4,75:75)","v":55.163620861757025}]
[null,null,"Opening Balance in Final Year",null,null,null,{"$f":"LOOKUP(G79,4:4,103:103)","v":51.620526696722223}]
[null,null,"Difference",null,null,null,{"$f":"G81-G82","v":3.5430941650348018}]
[]
[null,null,"Initial Lower Case",null,"Euro",{"$f":"G85/100","v":1},100,null,{"$f":"I11*$F$85","v":0},{"$f":"J11*$F$85","v":66.3},67.626000000000005,68.978519999999989,70.358090399999995,71.765252208000007,73.20055725216001,74.664568397203197,76.157859765147279,77.681016960450222,79.234637299659227,80.819330045652407,82.435716646565453,84.084430979496759,85.766119599086707,87.481441991068436,89.231070830889806,91.015692247507616,92.836006092457765,94.692726214306916,96.586580738593071,98.518312353364934,100.48867860043224,102.49845217244088,104.5484212158897,106.6393896402075,108.77217743301163,110.94762098167188,113.16657340130533,115.42990486933142,117.73850296671806,0,0,0,0,0,0,0,0,0]
[null,null,"Actual Case with Higher Traffic",null,"Euro",{"$f":"G86/100","v":1.2},120,null,{"$f":"I$11*$F86","v":0},{"$f":"J$11*$F86","v":79.559999999999988},81.151200000000003,82.77422399999999,84.429708479999988,86.118302649600011,87.840668702592012,89.597482076643828,91.389431718176738,93.217220352540267,95.081564759591075,96.98319605478288,98.922859975878538,100.9013171753961,102.91934351890404,104.97773038928212,107.07728499706776,109.21883069700914,111.40320731094931,113.6312714571683,115.90389688631168,118.22197482403791,120.58641432051868,122.99814260692905,125.45810545906764,127.96726756824899,130.52661291961397,133.13714517800625,135.79988808156639,138.51588584319771,141.28620356006167,0,0,0,0,0,0,0,0,0]
[null,null,"Actual Case with Very High Traffic",null,"Euro",{"$f":"G87/100","v":1.31},131,null,{"$f":"I$11*$F87","v":0},86.852999999999994,88.590060000000008,90.361861199999993,92.169098423999998,94.012480392480015,95.892730000329621,97.810584600336199,99.766796292342946,101.76213221818979,103.7973748625536,105.87332235980466,107.99078880700075,110.15060458314076,112.35361667480359,114.60068900829965,116.89270278846566,119.23055684423498,121.61516798111968,124.04747134074206,126.52842076755692,129.05898918290808,131.64016896656625,134.27297234589756,136.95843179281553,139.69760042867182,142.49155243724525,145.34138348599015,148.24821115570998,151.21317537882416,154.23743888640067,0,0,0,0,0,0,0,0,0]
[null,null,"Actual Case with Low Traffic",null,"Euro",{"$f":"G88/100","v":0.85},85,null,{"$f":"I$11*$F88","v":0},56.354999999999997,57.482100000000003,58.631741999999988,59.804376839999996,61.000464376800004,62.220473664336005,63.464883137622714,64.734180800375185,66.028864416382689,67.349441704710344,68.696430538804549,70.070359149580639,71.471766332572244,72.901201659223702,74.359225692408174,75.846410206256337,77.363338410381473,78.910605178589094,80.48881728216088,82.098593627804107,83.740565500360191,85.415376810367405,87.123684346574748,88.866158033506252,90.643481194176374,92.456350818059889,94.305477834421097,96.191587391109522,98.115419138931713,100.07772752171034,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Scenario",null,3]
[null,null,{"$f":"INDEX(C85:C88,$E$90)","v":"Actual Case with Very High Traffic"},null,null,null,null,null,{"$f":"INDEX(I85:I88,$E$90)","v":0},{"$f":"INDEX(J85:J88,$E$90)","v":86.852999999999994},{"$f":"INDEX(K85:K88,$E$90)","v":88.590060000000008},{"$f":"INDEX(L85:L88,$E$90)","v":90.361861199999993},{"$f":"INDEX(M85:M88,$E$90)","v":92.169098423999998},{"$f":"INDEX(N85:N88,$E$90)","v":94.012480392480015},{"$f":"INDEX(O85:O88,$E$90)","v":95.892730000329621},{"$f":"INDEX(P85:P88,$E$90)","v":97.810584600336199},{"$f":"INDEX(Q85:Q88,$E$90)","v":99.766796292342946},{"$f":"INDEX(R85:R88,$E$90)","v":101.76213221818979},{"$f":"INDEX(S85:S88,$E$90)","v":103.7973748625536},{"$f":"INDEX(T85:T88,$E$90)","v":105.87332235980466},{"$f":"INDEX(U85:U88,$E$90)","v":107.99078880700075},{"$f":"INDEX(V85:V88,$E$90)","v":110.15060458314076},{"$f":"INDEX(W85:W88,$E$90)","v":112.35361667480359},{"$f":"INDEX(X85:X88,$E$90)","v":114.60068900829965},{"$f":"INDEX(Y85:Y88,$E$90)","v":116.89270278846566},{"$f":"INDEX(Z85:Z88,$E$90)","v":119.23055684423498},{"$f":"INDEX(AA85:AA88,$E$90)","v":121.61516798111968},{"$f":"INDEX(AB85:AB88,$E$90)","v":124.04747134074206},{"$f":"INDEX(AC85:AC88,$E$90)","v":126.52842076755692},{"$f":"INDEX(AD85:AD88,$E$90)","v":129.05898918290808},{"$f":"INDEX(AE85:AE88,$E$90)","v":131.64016896656625},{"$f":"INDEX(AF85:AF88,$E$90)","v":134.27297234589756},{"$f":"INDEX(AG85:AG88,$E$90)","v":136.95843179281553},{"$f":"INDEX(AH85:AH88,$E$90)","v":139.69760042867182},{"$f":"INDEX(AI85:AI88,$E$90)","v":142.49155243724525},{"$f":"INDEX(AJ85:AJ88,$E$90)","v":145.34138348599015},{"$f":"INDEX(AK85:AK88,$E$90)","v":148.24821115570998},{"$f":"INDEX(AL85:AL88,$E$90)","v":151.21317537882416},{"$f":"INDEX(AM85:AM88,$E$90)","v":154.23743888640067},{"$f":"INDEX(AN85:AN88,$E$90)","v":0},{"$f":"INDEX(AO85:AO88,$E$90)","v":0},{"$f":"INDEX(AP85:AP88,$E$90)","v":0},{"$f":"INDEX(AQ85:AQ88,$E$90)","v":0},{"$f":"INDEX(AR85:AR88,$E$90)","v":0},{"$f":"INDEX(AS85:AS88,$E$90)","v":0},{"$f":"INDEX(AT85:AT88,$E$90)","v":0},{"$f":"INDEX(AU85:AU88,$E$90)","v":0},{"$f":"INDEX(AV85:AV88,$E$90)","v":0}]
[]
[null,null,"Initial Sweep Percent",null,null,1,null,null,{"$f":"$F$93","v":1},{"$f":"$F$93","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1]
[null,null,"Years of Sweep",null,null,8,"sweep yr",null,{"$f":"I4<$F$94","v":true},true,true,true,true,true,true,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,"Final Sweep Period",null,null,{"$f":"F94","v":8},null,null,{"$f":"I4=$F$95","v":false},false,false,false,false,false,false,true,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,"Sweep in Final Year",null,null,0.6,"swep_applied",null,{"$f":"$F$96*I95","v":0},{"$f":"$F$96*J95","v":0},0,0,0,0,0,0.6,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Sweep Applied",null,null,null,null,null,{"$f":"I93*I94+I95*I96","v":1},{"$f":"J93*J94+J95*J96","v":1},1,1,1,1,1,0.6,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[]
[null,"Adjusted Debt Schedule"]
[null,null,"Base Debt"]
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[null,null,null,"Add: Debt Issue","Euro",null,null,null,{"$f":"I40","v":870.86647705304927},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Cash Flow Before Default",null,"Euro",null,null,null,{"$f":"I126-I130","v":0},{"$f":"J126-J130","v":0},0,0,0,0,0,19.337564630006387,50.403706950315041,51.173306908344124,51.958298865533827,52.758990661867308,53.575696294127454,54.408736039032803,55.25843657883626,56.125131129435786,57.009159571047306,57.910868581491066,58.830611772143683,59.768749826609366,60.725650642164368,61.701689474030474,62.697249082533858,63.712719883207342,64.748500099894301,69.348090085949792,125.75737129370499,128.2725187195791,130.83796909397068,133.45472847585009,136.12382304536726,1.4836132322670891E-13,1.4836132322670889E-13,1.4836132322670894E-13,1.4836132322670891E-13,1.4836132322670891E-13,1.4836132322670891E-13,1.4836132322670889E-13,1.4836132322670889E-13,1.4836132322670886E-13]
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[null,null,null,"Less: Debt Repayment =DS - Int","Euro",null,null,null,{"$f":"I37-I44","v":0},{"$f":"J37-J44","v":15.789934687231089},16.933338891013623,18.132524855394944,19.390046045316311,20.708571264498389,22.09088985001511,23.539917100666209,25.058699949670626,26.650422892674975,28.318414182567228,30.066152303101834,31.897272733883693,33.815575019822163,35.825030158757002,37.929788321574343,40.134186919775175,42.442759036132372,44.860242234775299,47.391587767777324,50.041970196088812,-5.7553961596568113E-14,-6.0143889868413675E-14,-6.2850364912492287E-14,-6.5678631333554439E-14,-6.8634169743564393E-14,-7.1722707382024796E-14,-7.49502292142159E-14,-7.8322989528855619E-14,-8.1847524057654124E-14,-8.5530662640248557E-14,-8.9379542459059744E-14,-9.3401621869717422E-14,-9.7604694853854697E-14,-1.0199690612227816E-13,-1.0658676689778069E-13,-1.1138317140818082E-13,-1.1639541412154897E-13,-1.2163320775701866E-13,-1.271067021060845E-13,-1.3282650370085831E-13,-1.3880369636739692E-13,-1.450498627039298E-13,-1.5157710652560664E-13,-1.5839807631925893E-13,-1.6552598975362557E-13,-1.7297465929253875E-13,-1.8075851896070299E-13,-1.8889265231393462E-13,-1.9739282166806168E-13,-2.0627549864312447E-13,-2.1555789608206505E-13,-2.2525800140575801E-13,-2.3539461146901712E-13,-2.459873689851229E-13,-2.5705680058945342E-13,-2.6862435661597881E-13,-2.8071245266369785E-13,-2.9334451303356428E-13,-3.0654501612007466E-13,-3.20339541845478E-13,-3.3475482122852449E-13,-3.4981878818380808E-13,-3.6556063365207946E-13,-3.8201086216642306E-13,{"$f":"BV37-BV44","v":-3.9920135096391212E-13},-4.1716541175728815E-13,-4.3593785528636612E-13,-4.5555505877425261E-13,-4.7605503641909401E-13,-4.9747751305795321E-13,-5.1986400114556109E-13,-5.4325788119711127E-13,-5.6770448585098128E-13,-5.9325118771427542E-13,-6.1994749116141781E-13,-6.4784512826368162E-13,-6.7699815903554736E-13,-7.0746307619214695E-13,-7.3929891462079362E-13,-7.7256736577872938E-13,-8.0733289723877217E-13,-8.4366287761451688E-13,-8.8162770710717019E-13,-9.2130095392699297E-13,-9.6275949685370761E-13,-1.0060836742121244E-12,-1.0513574395516701E-12,-1.098668524331495E-12,-1.1481086079264124E-12,-1.199773495283101E-12,-1.2537633025708406E-12,-1.3101826511865283E-12,-1.369140870489922E-12,-1.4307522096619684E-12,-1.495136059096757E-12,-1.5624171817561113E-12,-1.6327259549351362E-12,-1.7061986229072173E-12,-1.7829775609380422E-12,-1.863211551180254E-12,-1.9470560709833654E-12,-2.0346735941776169E-12,-2.1262339059156098E-12,-2.2219144316818122E-12,-2.3219005811074937E-12,-2.4263861072573312E-12,-2.5355734820839108E-12,-2.6496742887776871E-12,-2.768909631772683E-12,-2.8935105652024534E-12,-3.0237185406365638E-12,-3.1597858749652094E-12,-3.3019762393386443E-12,-3.450565170108883E-12,-3.6058406027637827E-12,-3.7681034298881536E-12,-3.9376680842331203E-12,-4.1148631480236106E-12,-4.300031989684673E-12]
[null,null,null,"Closing Balance","Euro",null,null,null,{"$f":"I40+I41-I42","v":611.01732441073773},{"$f":"J40+J41-J42","v":595.22738972350669},578.2940508324931,560.16152597709811,540.77147993178176,520.06290866728341,497.97201881726829,474.43210171660206,449.37340176693147,422.72297887425651,394.4045646916893,364.33841238858747,332.44113965470376,298.62556463488158,262.8005344761246,224.87074615455026,184.73655923477509,142.29380019864271,97.433557963867415,50.041970196090091,1.2789769243681803E-12,1.3365308859647484E-12,1.396674775833162E-12,1.4595251407456543E-12,1.5252037720792089E-12,1.5938379418227732E-12,1.6655606492047979E-12,1.7405108784190139E-12,1.8188338679478695E-12,1.9006813920055235E-12,1.9862120546457721E-12,2.0755915971048317E-12,2.1689932189745489E-12,2.2665979138284037E-12,2.368594819950682E-12,2.4751815868484629E-12,2.5865647582566436E-12,2.7029601723781926E-12,2.8245933801352113E-12,2.9517000822412959E-12,3.084526585942154E-12,3.223330282309551E-12,3.3683801450134809E-12,3.5199572515390874E-12,3.6783553278583463E-12,3.8438813176119721E-12,4.0168559769045111E-12,4.1976144958652142E-12,4.3865071481791489E-12,4.5838999698472103E-12,4.7901754684903349E-12,5.0057333645724003E-12,5.230991365978158E-12,5.4663859774471753E-12,5.7123733464322979E-12,5.9694301470217512E-12,6.2380545036377301E-12,6.5187669563014283E-12,6.8121114693349924E-12,7.1186564854550672E-12,7.4389960273005446E-12,7.7737508485290691E-12,8.1235696367128775E-12,8.4891302703649572E-12,8.8711411325313805E-12,{"$f":"BV40+BV41-BV42","v":9.2703424834952924E-12},9.6875078952525812E-12,1.0123445750538947E-11,1.05790008093132E-11,1.1055055845732293E-11,1.1552533358790247E-11,1.2072397359935807E-11,1.2615655241132918E-11,1.3183359726983899E-11,1.3776610914698174E-11,1.4396558405859591E-11,1.5044403534123274E-11,1.5721401693158822E-11,1.642886476935097E-11,1.7168163683971764E-11,1.7940731049750494E-11,1.8748063946989265E-11,1.9591726824603782E-11,2.0473354531710953E-11,2.1394655485637946E-11,2.2357414982491654E-11,2.3363498656703778E-11,2.4414856096255448E-11,2.5513524620586942E-11,2.6661633228513356E-11,2.7861406723796457E-11,2.9115170026367295E-11,3.0425352677553822E-11,3.1794493548043742E-11,3.3225245757705712E-11,3.4720381816802473E-11,3.6282798998558583E-11,3.791552495349372E-11,3.9621723576400939E-11,4.1404701137338981E-11,4.3267912688519234E-11,4.5214968759502598E-11,4.7249642353680217E-11,4.9375876259595829E-11,5.1597790691277641E-11,5.3919691272385137E-11,5.6346077379642467E-11,5.888165086172638E-11,6.1531325150504067E-11,6.4300234782276744E-11,6.7193745347479201E-11,7.0217463888115771E-11,7.3377249763080983E-11,7.6679226002419626E-11,8.0129791172528512E-11,8.3735631775292301E-11,8.7503735205180457E-11,9.1441403289413577E-11,9.5556266437437181E-11,9.9856298427121857E-11]
[null,null,null,"Interest  Opening Balance x Int Rate","Euro",{"$f":"F32","v":4.4999999999999998E-2},null,null,{"$f":"I40*$F$44","v":0},{"$f":"J40*$F$44","v":27.495779598483196},26.7852325375578,26.023232287462189,25.207268668969412,24.334716596930178,23.402830890027751,22.408740846777071,21.349444577247091,20.221803079511915,19.022534049341541,17.748205411126019,16.395228557486437,14.959851284461669,13.438150408569671,11.826024051425607,10.119183576954761,8.3131451655648778,6.4032210089389219,4.3845101083740339,2.2518886588240541,5.7553961596568113E-14,6.0143889868413675E-14,6.2850364912492287E-14,6.5678631333554439E-14,6.8634169743564393E-14,7.1722707382024796E-14,7.49502292142159E-14,7.8322989528855619E-14,8.1847524057654124E-14,8.5530662640248557E-14,8.9379542459059744E-14,9.3401621869717422E-14,9.7604694853854697E-14,1.0199690612227816E-13,1.0658676689778069E-13,1.1138317140818082E-13,1.1639541412154897E-13,1.2163320775701866E-13,1.271067021060845E-13,1.3282650370085831E-13,1.3880369636739692E-13,1.450498627039298E-13,1.5157710652560664E-13,1.5839807631925893E-13,1.6552598975362557E-13,1.7297465929253875E-13,1.8075851896070299E-13,1.8889265231393462E-13,1.9739282166806168E-13,2.0627549864312447E-13,2.1555789608206505E-13,2.2525800140575801E-13,2.3539461146901712E-13,2.459873689851229E-13,2.5705680058945342E-13,2.6862435661597881E-13,2.8071245266369785E-13,2.9334451303356428E-13,3.0654501612007466E-13,3.20339541845478E-13,3.3475482122852449E-13,3.4981878818380808E-13,3.6556063365207946E-13,3.8201086216642306E-13,{"$f":"BV40*$F$44","v":3.9920135096391212E-13},4.1716541175728815E-13,4.3593785528636612E-13,4.5555505877425261E-13,4.7605503641909401E-13,4.9747751305795321E-13,5.1986400114556109E-13,5.4325788119711127E-13,5.6770448585098128E-13,5.9325118771427542E-13,6.1994749116141781E-13,6.4784512826368162E-13,6.7699815903554736E-13,7.0746307619214695E-13,7.3929891462079362E-13,7.7256736577872938E-13,8.0733289723877217E-13,8.4366287761451688E-13,8.8162770710717019E-13,9.2130095392699297E-13,9.6275949685370761E-13,1.0060836742121244E-12,1.0513574395516701E-12,1.098668524331495E-12,1.1481086079264124E-12,1.199773495283101E-12,1.2537633025708406E-12,1.3101826511865283E-12,1.369140870489922E-12,1.4307522096619684E-12,1.495136059096757E-12,1.5624171817561113E-12,1.6327259549351362E-12,1.7061986229072173E-12,1.7829775609380422E-12,1.863211551180254E-12,1.9470560709833654E-12,2.0346735941776169E-12,2.1262339059156098E-12,2.2219144316818122E-12,2.3219005811074937E-12,2.4263861072573312E-12,2.5355734820839108E-12,2.6496742887776871E-12,2.768909631772683E-12,2.8935105652024534E-12,3.0237185406365638E-12,3.1597858749652094E-12,3.3019762393386443E-12,3.450565170108883E-12,3.6058406027637827E-12,3.7681034298881536E-12,3.9376680842331203E-12,4.1148631480236106E-12,4.300031989684673E-12]
[]
[null,null,"Subordinated Debt"]
[null,null,null,"Aggregate DSCR =CFADS/(DSsen + DSsub)"]
[null,null,null,"Aggregate DSCR * (DSsen + DSsub) =CFADS"]
[null,null,null,"(DSsen + DSsub) =CFADS/Aggregate DSCR"]
[null,null,null,"DSsub =CFADS/Aggregate DSCR - DSsen"]
[]
[null,null,null,"Assumptions"]
[null,null,null,"Tenure","Years",24]
[null,null,null,"Aggregate DSCR","x",1.2]
[null,null,null,"Interest Rate","%",6.5000000000000002E-2]
[]
[null,null,null,"Debt Tenor Flag over Sub-Debt Tenor",null,{"$f":"F53","v":24},null,null,{"$f":"(AND(I5,(I3<=$F$57)*1))*1","v":0},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,{"$f":"(AND(AO5,(AO3<=$F$57)*1))*1","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"(AND(BU5,(BU3<=$F$57)*1))*1","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"(AND(DA5,(DA3<=$F$57)*1))*1","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"CFADS over Sub Debt Tenor",null,null,null,null,{"$f":"IF(I57,I14)","v":false},75.75,76.507499999999993,77.272574999999989,78.04530075000001,78.825753757499996,79.614011295075002,80.41015140802574,81.214252922105999,82.026395451327062,82.846659405840342,83.675125999898739,84.51187725989773,85.35699603249671,86.210565992821671,87.072671652749904,87.943398369277389,88.822832352970181,89.711060676499883,90.60817128326488,91.514252996097525,92.429395526058514,93.353689481319094,94.287226376132296,false,false,false,false,false,false,false,false,{"$f":"IF(AO57,AO14)","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,{"$f":"IF(BU57,BU14)","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,{"$f":"IF(DA57,DA14)","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,null,"Total Debt Service with Senior",null,{"$f":"F54","v":1.2},null,null,{"$f":"IF(I57,I58/$F$59)","v":false},{"$f":"IF(J57,J58/$F$59)","v":63.125},63.756249999999994,64.393812499999996,65.037750625000015,65.688128131249996,66.345009412562504,67.008459506688126,67.678544101755008,68.355329542772552,69.038882838200294,69.729271666582292,70.426564383248106,71.130830027080592,71.842138327351392,72.560559710624929,73.286165307731167,74.019026960808489,74.759217230416567,75.506809402720734,76.261877496747942,77.024496271715435,77.794741234432578,78.572688646776911,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,{"$f":"IF(BV57,BV58/$F$59)","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,null,"Less: Senior Debt Service",null,null,null,null,{"$f":"I37","v":false},43.285714285714285,43.718571428571423,44.155757142857134,44.597314714285723,45.043287861428567,45.49372074004286,45.94865794744328,46.408144526917717,46.872225972186889,47.340948231908769,47.814357714227853,48.292501291370129,48.775426304283833,49.263180567326671,49.755812372999948,50.253370496729936,50.755904201697248,51.26346324371422,51.776097876151361,52.29385885491287,false,false,false,false,false,false,false,false,false,false,false,{"$f":"AO37","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,{"$f":"BU37","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,{"$f":"DA37","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,null,"Debt Service on Sub Debt",null,null,null,null,{"$f":"IF(I57,I59-I60)","v":false},{"$f":"IF(J57,J59-J60)","v":19.839285714285715},20.037678571428572,20.238055357142862,20.440435910714292,20.64484026982143,20.851288672519644,21.059801559244846,21.270399574837292,21.483103570585662,21.697934606291525,21.914913952354439,22.134063091877977,22.355403722796758,22.578957760024721,22.804747337624981,23.032794811001231,23.263122759111241,23.495753986702347,23.730711526569372,23.968018641835073,77.024496271715435,77.794741234432578,78.572688646776911,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,{"$f":"IF(BV57,BV59-BV60)","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,null,"PV of Debt Service",{"$f":"NPV(F62,I61:DX61)","v":294.25420840807237},{"$f":"F55","v":6.5000000000000002E-2}]
[]
[null,null,null,"Subordinated Debt - Opening","Euro",null,null,null,{"$f":"H68","v":0},{"$f":"I68","v":294.25420840807237},293.54144624031136,292.58396167450303,291.36386382620287,289.86207906419179,288.05827393354281,285.93077306670347,283.45647175679437,280.6107428461487,277.3673375605627,273.69827989570774,269.57375413657428,264.96198506357365,259.82911036990919,254.13904478392857,247.85333535725894,240.93100734447955,233.3284000627595,224.99899208013653,215.89321503877602,205.9582553744614,142.32104570208597,73.777172438288972,8.3844042819691822E-13,8.9293905602971792E-13,9.5098009467164955E-13,1.0127938008253069E-12,1.0786253978789518E-12,1.1487360487410836E-12,1.223403891909254E-12,1.3029251448833556E-12,1.3876152793007737E-12,1.4778102724553239E-12,1.5738679401649199E-12,1.6761693562756397E-12,1.7851203644335563E-12,1.9011531881217374E-12,2.0247281453496501E-12,2.1563354747973774E-12,2.2964972806592069E-12,2.4457696039020555E-12,2.6047446281556891E-12,2.774053028985809E-12,2.9543664758698867E-12,3.1464002968014293E-12,3.3509163160935221E-12,3.5687258766396011E-12,3.8006930586211754E-12,4.0477381074315518E-12,4.3108410844146022E-12,4.5910457549015515E-12,4.8894637289701521E-12,5.2072788713532121E-12,5.5457519979911707E-12,5.906225877860597E-12,6.2901305599215358E-12,6.6989890463164353E-12,7.1344233343270031E-12,7.5981608510582577E-12,8.0920413063770442E-12,8.6180239912915523E-12,9.1781955507255033E-12,9.7747782615226609E-12,1.0410138848521633E-11,{"$f":"BU68","v":1.108679787367554E-11},1.1807439735464449E-11,1.2574923318269638E-11,1.3392293333957164E-11,1.426279240066438E-11,1.5189873906707565E-11,1.6177215710643557E-11,1.7228734731835388E-11,1.834860248940469E-11,1.9541261651215995E-11,2.0811443658545036E-11,2.2164187496350464E-11,2.3604859683613244E-11,2.5139175563048106E-11,2.6773221974646233E-11,2.8513481402998239E-11,3.0366857694193127E-11,3.2340703444315678E-11,3.4442849168196201E-11,3.6681634364128954E-11,3.9065940597797337E-11,4.1605226736654163E-11,4.4309566474536685E-11,4.7189688295381571E-11,5.0257018034581371E-11,5.3523724206829162E-11,5.7002766280273055E-11,6.0707946088490806E-11,6.4653962584242711E-11,6.8856470152218487E-11,7.3332140712112695E-11,7.8098729858400015E-11,8.317514729919601E-11,8.8581531873643753E-11,9.4339331445430597E-11,1.0047138798938359E-10,1.0700202820869353E-10,1.1395716004225862E-10,1.2136437544500542E-10,1.2925305984893077E-10,1.3765450873911126E-10,1.466020518071535E-10,1.5613118517461849E-10,1.662797122109687E-10,1.7708789350468166E-10,1.8859860658248597E-10,2.0085751601034754E-10,2.1391325455102013E-10,2.2781761609683645E-10,2.4262576114313083E-10,2.5839643561743434E-10,2.7519220393256758E-10,2.9307969718818448E-10,3.1212987750541649E-10,3.3241831954326854E-10]
[null,null,null,"Add: Debt Draws","Euro",{"$f":"E62","v":294.25420840807237},null,null,{"$f":"$F$65*I4","v":294.25420840807237},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$F$65*AO4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$F$65*BU4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$F$65*DA4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Add: PIK Interest"]
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[null,null,null,"Closing Balance","Euro",null,null,null,{"$f":"I64+I65-I67+I66","v":294.25420840807237},293.54144624031136,292.58396167450303,291.36386382620287,289.86207906419179,288.05827393354281,285.93077306670347,283.45647175679437,280.6107428461487,277.3673375605627,273.69827989570774,269.57375413657428,264.96198506357365,259.82911036990919,254.13904478392857,247.85333535725894,240.93100734447955,233.3284000627595,224.99899208013653,215.89321503877602,205.9582553744614,142.32104570208597,73.777172438288972,8.3844042819691822E-13,8.9293905602971792E-13,9.5098009467164955E-13,1.0127938008253069E-12,1.0786253978789518E-12,1.1487360487410836E-12,1.223403891909254E-12,1.3029251448833556E-12,1.3876152793007737E-12,{"$f":"AO64+AO65-AO67+AO66","v":1.4778102724553239E-12},1.5738679401649199E-12,1.6761693562756397E-12,1.7851203644335563E-12,1.9011531881217374E-12,2.0247281453496501E-12,2.1563354747973774E-12,2.2964972806592069E-12,2.4457696039020555E-12,2.6047446281556891E-12,2.774053028985809E-12,2.9543664758698867E-12,3.1464002968014293E-12,3.3509163160935221E-12,3.5687258766396011E-12,3.8006930586211754E-12,4.0477381074315518E-12,4.3108410844146022E-12,4.5910457549015515E-12,4.8894637289701521E-12,5.2072788713532121E-12,5.5457519979911707E-12,5.906225877860597E-12,6.2901305599215358E-12,6.6989890463164353E-12,7.1344233343270031E-12,7.5981608510582577E-12,8.0920413063770442E-12,8.6180239912915523E-12,9.1781955507255033E-12,9.7747782615226609E-12,1.0410138848521633E-11,{"$f":"BU64+BU65-BU67+BU66","v":1.108679787367554E-11},1.1807439735464449E-11,1.2574923318269638E-11,1.3392293333957164E-11,1.426279240066438E-11,1.5189873906707565E-11,1.6177215710643557E-11,1.7228734731835388E-11,1.834860248940469E-11,1.9541261651215995E-11,2.0811443658545036E-11,2.2164187496350464E-11,2.3604859683613244E-11,2.5139175563048106E-11,2.6773221974646233E-11,2.8513481402998239E-11,3.0366857694193127E-11,3.2340703444315678E-11,3.4442849168196201E-11,3.6681634364128954E-11,3.9065940597797337E-11,4.1605226736654163E-11,4.4309566474536685E-11,4.7189688295381571E-11,5.0257018034581371E-11,5.3523724206829162E-11,5.7002766280273055E-11,6.0707946088490806E-11,6.4653962584242711E-11,6.8856470152218487E-11,7.3332140712112695E-11,7.8098729858400015E-11,{"$f":"DA64+DA65-DA67+DA66","v":8.317514729919601E-11},8.8581531873643753E-11,9.4339331445430597E-11,1.0047138798938359E-10,1.0700202820869353E-10,1.1395716004225862E-10,1.2136437544500542E-10,1.2925305984893077E-10,1.3765450873911126E-10,1.466020518071535E-10,1.5613118517461849E-10,1.662797122109687E-10,1.7708789350468166E-10,1.8859860658248597E-10,2.0085751601034754E-10,2.1391325455102013E-10,2.2781761609683645E-10,2.4262576114313083E-10,2.5839643561743434E-10,2.7519220393256758E-10,2.9307969718818448E-10,3.1212987750541649E-10,3.3241831954326854E-10,3.5402551031358099E-10]
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[]
[]
[null,"Cash Flow Statement"]
[null,null,"Cash Before COD - Uses and Source"]
[null,null,null,"Uses"]
[null,null,null,"Cap Exp","Euro",null,null,null,{"$f":"I12","v":1000},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO12","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"BU12","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"DA12","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Source"]
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[null,null,null,"Subordinated Debt","Euro",null,null,null,{"$f":"I65","v":294.25420840807237}]
[null,null,null,"Equity Investment","Euro",null,null,null,{"$f":"I75-I78-I79","v":94.728467181189899},{"$f":"J75-J78","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"BV75-BV78","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total",null,null,null,null,{"$f":"SUM(I78:I80)","v":1000},{"$f":"SUM(J78:J80)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM(BV78:BV80)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Cash Flow After"]
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[null,null,null,"Total Debt Service","Euro",null,null,null,{"$f":"I85+I86+I88+I89","v":0},{"$f":"J85+J86+J88+J89","v":63.125},63.756249999999994,64.393812499999996,65.037750625000015,65.688128131249996,66.345009412562518,67.008459506688126,67.678544101755008,68.355329542772552,69.038882838200294,69.729271666582292,70.426564383248106,71.130830027080577,71.842138327351392,72.560559710624929,73.286165307731167,74.019026960808489,74.759217230416567,75.50680940272072,76.261877496747942,77.024496271715435,77.794741234432578,78.572688646776911,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"BV85+BV86+BV88+BV89","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Equity IRR",{"$f":"E97","v":0.15861112614598105},"DSCR",{"$f":"F37","v":1.75},null,"Tenure",{"$f":"F35","v":21},"Debt to Capital"]
[]
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[null,null,null,"Total DSCR",null,null,null,null,{"$f":"IF(I102,I100/I102)","v":false},{"$f":"IF(J102,J100/J102)","v":1.2},1.2,1.2,1.2,1.2,1.1999999999999997,1.1999999999999997,1.1999999999999997,1.2,1.1999999999999997,1.1999999999999997,1.2,1.2000000000000002,1.2,1.1999999999999997,1.2,1.2,1.2,1.2000000000000002,1.2,1.2,1.2,1.2,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,{"$f":"IF(BV102,BV100/BV102)","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[]
[null,"Risk Analysis"]
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[null,null,"Scheduled Subordinated Debt Repayment"]
[]
[null,null,"Volatility",null,"%",0]
[null,null,"Mean Reversion",null,"%",0]
[]
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[]
[null,null,"Default on Sub Debt"]
[null,null,null,"Opening Balance"]
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[null,null,null,"Less: Repayment of Default"]
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[]
[null,null,null,"Interest on Defaulted Sub Debt"]
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[null,"Adjusted Cash Waterfall"]
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[null,null,"Cash Swept Before Constraint",null,"Euro",null,null,null,{"$f":"MAX(I173,0)*I175","v":0},{"$f":"MAX(J173,0)*J175","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"MAX(BV173,0)*BV175","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Less: Interest - Subordinated"]
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[null,"Timing "]
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[]
[null,"Debt Structuring"]
[null,null,"Tenure of Debt",null,"Years",30]
[null,null,"Interest Rate",null,"% p.a.",4.4999999999999998E-2]
[null,null,"DSCR for Sizing",null,"x",1.3]
[]
[null,null,"Flag for Tenure",null,"Flag",{"$f":"F29","v":30}]
[null,null,"CFADS for Tenure",null,"Euro"]
[null,null,"Target Debt Service =CFADS/DSCR",null,"Euro",{"$f":"F31","v":1.3}]
[null,null,"PV of Debt =Debt",null,"Euro",{"$f":"NPV(F30,I35:DX35)","v":0}]
[]
[null,null,"Opening Balance",null,"Euro"]
[null,null,"Add: Debt Draws",null,"Euro",{"$f":"F36","v":0}]
[null,null,"Less: Debt Repayment =DS - Int",null,"Euro"]
[null,null,"Closing Balance",null,"Euro"]
[null,null,"Interest  Opening Balance x Int Rate",null,"Euro",{"$f":"F30","v":4.4999999999999998E-2}]
[]
[null,"Cash Flow Statement"]
[null,null,"Cash Before COD - Uses and Source"]
[null,null,null,"Uses"]
[null,null,null,"Cap Exp","Euro"]
[]
[null,null,null,"Source"]
[null,null,null,"Debt","Euro"]
[null,null,null,"Equity Investment","Euro"]
[null,null,null,"Total"]
[]
[null,null,"Cash Flow After"]
[null,null,null,"EBITDA ","Euro"]
[null,null,null,"Less: Interest","Euro"]
[null,null,null,"Less: Repayment","Euro"]
[null,null,null,"Dividends","Euro"]
[]
[null,"Summary Analysis"]
[]
[null,null,null,"Equity Net Cash Flow","Euro"]
[null,null,null,"Equity IRR",{"$f":"IRR(I62:DX62)","v":{"$error":"#NUM!"}}]
[]
[]
[null,null,null,"Cash Flow","Euro"]
[null,null,null,"Debt Service","Euro"]
[]
[null,null,null,"Equity IRR",{"$f":"E63","v":{"$error":"#NUM!"}},"DSCR"]
[]
[null,null,null,"DSCR"]
[]
[null,"Risk Analysis"]
[null,null,"Scheduled Debt Repayment"]
[]
[null,null,"Volatility",null,"%",0]
[null,null,"Mean Reversion",null,"%",0]
[]
[null,null,"Base Revenue Estimate",null,"Euro",{"$f":"G79/100","v":0}]
[]
[null,null,"Random Number - Probability",null,"%"]
[null,null,"Cash Flow Change Before Volatilty",null,"Factor"]
[null,null,"Cash Flow Change After Volatilty",null,"Factor",{"$f":"F76","v":0}]
[]
[null,null,"Last Period",null,"Index"]
[null,null,"Mean Reversion Adjustment",null,"Index",{"$f":"F77","v":0}]
[]
[null,null,"Random Index",null,"Index",{"$f":"F76","v":0}]
[null,null,"Adjusted Revenue",null,"Euro"]
[null,null,"Operating Expense",null,"Euro"]
[null,null,"Adjusted EBITDA",null,"Euro"]
[]
[null,"Adjusted Debt Schedule"]
[null,null,"Base Debt"]
[null,null,null,"Opening Debt","Euro"]
[null,null,null,"Add: Debt Issue","Euro"]
[null,null,null,"Less: Scheduled","Euro"]
[null,null,null,"Less: Cash Sweep","Euro"]
[null,null,null,"Closing Balance","Euro"]
[null,null,null,"Interest ","Euro",{"$f":"$F$42","v":4.4999999999999998E-2}]
[]
[null,null,"Defaulted Debt"]
[null,null,null,"Opening Balance","Euro"]
[null,null,null,"Add: Default","Euro"]
[null,null,null,"Less: Repayment of Default","Euro"]
[null,null,null,"Closing Balance","Euro"]
[null,null,null,"Interest","Euro",{"$f":"$F$42","v":4.4999999999999998E-2}]
[]
[null,null,null,"Total Interest","Euro"]
[]
[null,"Adjusted Cash Waterfall"]
[null,null,"Adjusted Revenues",null,"Euro"]
[null,null,"Less Operating Expense",null,"Euro"]
[null,null,"EBITDA"]
[]
[null,null,"Less: Interest",null,"Euro"]
[null,null,"Less: Debt Repayment Scheduled",null,"Euro"]
[null,null,"Cash Flow After Scheduled Debt Service",null,"Euro"]
[]
[null,null,"Cash Sweep",null,"%",{"$f":"G120/100","v":0}]
[null,null,"Cash Swept Before Constraint",null,"Euro"]
[null,null,"Cash Swept After Constraint"]
[]
[null,null,"Cash Flow Before Default",null,"Euro"]
[null,null,"Add: Repayment not Made from Default",null,"Euro"]
[null,null,"Less: Repayment of Default",null,"Euro"]
[]
[null,null,"Cash Flow After Sweep",null,"Euro"]
[]
[null,null,"Dividends"]
[]
[null,"Ratios"]
[null,null,"Equity Cash Flow"]
[null,null,"Equity IRR",null,null,{"$f":"IRR(I133:DX133)","v":{"$error":"#NUM!"}}]
[]
[null,null,"DSCR"]
[]
[null,null,"CFADS for Loan Life"]
[null,null,"NPV of CFADS",null,null,{"$f":"F107","v":4.4999999999999998E-2}]
[null,null,"Debt Balance"]
[null,null,"LLCR"]
[]
[null,null,"CFADS for Life",null,null,{"$f":"F139","v":4.4999999999999998E-2}]
[null,null,"Debt Balance"]
[null,null,"PLCR"]
[]
[null,"Graphs"]
[]
[null,null,null,"Scheduled Debt Service"]
[null,null,null,"Sweep"]
[null,null,null,"Repayment of Default"]
[null,null,null,"Default"]
[null,null,null,"Dividend"]
[]
[null,null,null,"Equity IRR",null,{"$f":"F134","v":{"$error":"#NUM!"}}]