December 2012
Intermediate to advanced
250 pages
7h 30m
English
Content preview from The Real Cost of Capital
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5
THE COST OF DEBT AND OPTIMAL CAPITAL STRUCTURE
Different types of debt finance
Calculating the pre-tax cost of debt
Capital structure – the mix of debt and equity
Generally far less attention has been paid to the cost of debt than the cost of equity when calculating the cost of capital. With a historically small share of overall company financing its importance has often been overlooked. Only in certain circumstances, such as leveraged buyouts and project finance has debt moved centre stage. This is beginning to change.
Lower interest rates and a greater appetite from investors for corporate bond issues mean that companies are looking more towards ...
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