LBO Modeling question (Revolver, circularity, etc)
Hi for 1-4hour long LBO Modeling I have following questions.
1) Do you I necessarily have to calculate interest expense by averaging beginning and ending debt balance? Or is it okay to calculate it with beginning balance only for the purpose of testing?
2) For calculating Revolver, do I always have to use cash flow surplus which accounts for beginning cash, minimum cash balance, free cash flow, and amortization or can I simply use free cash flow?
I would greatly appreciate your inputs!
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