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I found what interest Nike’s has to pay to finance its debt. The shoe company finances its debt with bond which follows those characteristics:
|Coupon Rate |6.75% (Paid semi-annually) |
|Issued |07/15/1996 |
|Maturity |07/15/21 |
|Current Price |$95.60 |
Because the bond interests are paid semi-annually I first calculated their semi-annual cost:
|Payment |(6.75%) /2 * 1000 = $33.75 |
|Par Value |$1000 |
|Present Value |(95.6%) x 1000 = $956 |
|Time-to-Maturity |25 x 2= 50 periods |
? Semi-Annual Yield-to-Maturity = 3.56%
Which is equal 7.13% a year. This yield represents the cost of issuing the bonds for the company before taxes...
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