(ST1) Hedging It is now March, and the current cost of debt for Wansley Construction is 12%....
Question:
(ST–1)
Hedging It is now March, and the current cost of debt for Wansley Construction is 12%.
Wansley plans to issue $5 million in 20-year bonds (with coupons paid semiannually)
in September, but it’s afraid that rates will climb even higher before then. The following data are available:
Futures Prices: Treasury Bonds—$100,000; Pts. 32nds of 100%
Delivery Month
(1)
Open
(2)
High
(3)
Low
(4)
Settle
(5)
Change
(6)
Mar 96-28 97-13 97-22 98-05 +7 June 98-03 98-03 97-13 97-25 +8 Sept 97-03 97-17 97-03 97-13 +8
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Related Book For 
Financial Management Theory And Practice
ISBN: 9781439078105
13th Edition
Authors: Eugene F. Brigham, Michael C. Ehrhardt
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