Acme Corporation $1,000,000,000 Term B Debt Acme Corporation enters into a 5 year term loan with JP Morgan bank on January 1, 2020. JP Morgan is the lead with 40% and has syndicated the remaining 60% with PNC, Wells Fargo and Deutsche at 20% each. Loan interest is calculated quarterly and is based on 3 month LIBOR plus a spread, which is based on the companys credit rating. The spread ranges from 300 BPS to 400 BPS. If Acme is rated BBB+ or better, the spread is 300 BPS. If it is rated less than BBB+, the spread is 400 BPS. Loan interest is calculated ACT/360 with the first payment due 3/31/20020 and subsequent quarterly payments on the last day of each quarter. Principal payments are based on the follow schedule: $50,000,000 due 6 months post inception $100,000,000 due 12 months post inception $200,000,000 due 24 months post inception $250,000,000 due 48 months post inception $400,000,000 due 60 months post inception $1,000,000,000 Total 3 month LIBOR resets as follows: 1/1/2020 = 2% 3/31/2020 = 2.5% 6/30/2020 = 3% 9/30/2020 = 3.5%