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Pick your faviorite public company or any public company and find their latest annual report. These are avaiable on every website – usually on the bottom under a link called somethomg like “investor relations”.
Take a look at their notes and how they are written.
In this assignment you are be going to write a note to a financial statement using the information given below.
The following information pertains to a fictitious company, Global Exports Inc., specifically to their long term debt as of December 31,2022.
Using the information given, write a short note for the financial statements describing the various parts of the long term debt and the company’s future plans for dealing with the debt.
Please upload your note in a word document using the link above.
Global Exports Inc. – Long Term Debt – 12/31/2022
Long term notes payables (4% interest) of $15 million, maturing over next 10 years. 10% of principal is due this year
$20 Million of 7% secured bonds collateralized on buildings, due in 10 years.
$5 Million in 9% debenture bonds, due in 2 years.
$100 million in outstanding 8% term bonds, maturing in 2025
Last year, the company borrowed $5 million at 4% from a related party, payable in 3 years
Plans on redeeming above term bonds by issuing preferred stock
Plans to refinance all outstanding debt with rates over 6% for lower interest notes.
The company is considering raising new capital, either by issuing new bonds or by selling additional common shares.
