Interest Rate (with milestone not met) if overnight cash rate stays below 1% (current 0.25%)
Year 1 = 15.25% (SOFR 1%+6%=7% plus Insurance 8.25%)
Year 1 = 11.6%
Year 1 = 11.35%
Average = 12.73%
Interest Rate (with milestone achieved) if overnight cash rate stays below 1% (current 0.25%)
Year 1 = 15.25% (SOFR 1%+6%=7% plus Insurance 8.25%)
Year 1 = 9.5%
Year 1 = 9.25%
Average = 11.33%
If SOFR rises 1.2% (from 0.29% now) than it becomes more expensive
Interest Rate (with milestone not met) if overnight cash rate...
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