I need help Using the information given, writing a short note fore the financial statements describing the
various parts of the long term debt and the company’s future plans for dealing with the debt.
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.
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