Greetings,
I'm just wondering if undrawn revolvers would be included in determining enterprise value.
So, say for example Company A has an undrawn revolver valued at $1 million. Would this $1 million revolver be included in determining the enterprise value of Company A, even though it is undrawn?
Cheers, Neneos
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No.
Only the drawn amount would be counted as debt. Think of the revolver as a credit card. Unless you use it you have not created an obligation.
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