代做Introduction to Structured Finance Spring 2025 Assignment#2代写留学生Matlab程序

Introduction to Structured Finance

Spring 2025

Assignment #2

Part 1: Size and structure the project finance transaction described below

Purpose: Finance the construction of a hospital using a series of revenue bonds.

Issuer and Series Designation:   County of NYU

Hospital Facilities Revenue Bonds Series 2025A

Bonds Dated Date:         4/22/2025

Bonds Delivery Date:     4/22/2025

First Interest Payment Date:       11/01/2025

Gross Project Cost: $500,000,000

Drawdown Schedule: $25,000,000    monthly   drawdowns   starting   5/1/2025   through   and   including 04/01/2026, $20,000,000 monthly drawdowns starting 05/01/2026 through and including 12/01/2026, and $10,000,000 monthly drawdowns starting 01/01/2027 through and including 04/01/2027.

Project Fund sizing protocol:       Net Funded assuming 2.00% investment rate.  Interest paid monthly.

Debt Service reserve fund:          Maximum Annual Debt Service.  Invested at 3.50% with interest earnings during construction deposited to capitalized interest account. Interest earnings paid semiannually beginning 11/01/25.

Capitalized interest requirement:    Fully capitalized through one month beyond end of construction period (5/1/27). Net funded assuming 2.00% reinvestment rate. Interest earnings paid semiannually beginning 11/01/25.

First principal payment date:                       5/1/2028

Final principal payment date:                       5/1/2055

Interest rate and yields:                              See Below

Underwriter’s Discount:              .70% of par

Cost of Issuance:                            Fixed Costs @ $550,000 Variable Costs @ .065% of par

Other Sources of Funds:               Issuer contribution (Equity) of $5,000,000

Other Uses of Funds:                     Bond Anticipation Note takeout of $18,500,000 Bond Structure: Level Annual Debt Service

Part 2: How much equity would be required if annual hospital revenues available for debt service were projected to be $37MM and required annual bond coverage = 1.10x.