Hi LonelyBear,
The $100m interest is from the Merrill Lynch Document, but the 9% was a rough calculation of what I thought the int rate would be. I have copied the figures below
EBITDA 181.9
Maintenance capex (9.9)
Net interest (93.8)
Sub debt interest (6.6)
Tax paid (4.7)
FCF 66.9
I dont disagree with what you say but still cant quite understand why the interst payment would be so high.
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