Spreadsheet: benjamin_rogers__1225__SkyGen Capital Market 041200
Sheet: Summary

 |  |  | Total Facility |  |  |  | 230000
 |  |  | SkyGen Interest Rate |  |  |  | 0.090025
 |  |  | Spread to LIBOR(bps) |  |  |  | 250
 |  |  | Expected Equity Yield |  |  |  | 0.2
 |  |  | [NAME] (bps) |  |  |  | 300
 |  |  | Undrawn Commitment Fee (bps) |  |  |  | 81.25
 |  |  | [NAME] |  |  |  | 0.65
 |  |  | Equity Percentage |  |  |  | 0.35
 |  |  | Capital Market Discount Rate |  |  |  | 0.1
 |  |  | PV of Cash Flows to Capital Market |  |  |  | 25074.24865554822
 |  |  | XIRR of Cash Flow to Equity Holder |  |  |  | 0.2493771016597748
 |  |  | Without Turbine Value Included |  |  |  | With Turbine Value Included |  |  |  | Without Turbine Value Included |  |  |  | With Turbine Value Included
 |  |  | Target Equity XIRR | Expected Equity Yield | PV of Cash Flows to Capital Market |  | Target Equity XIRR | Expected Equity Yield | PV of Cash Flows to Capital Market |  | Target Percentage Equity | Equity XIRR | PV of Cash Flows to Capital Market |  | Target Percentage Equity | Equity XIRR | PV of Cash Flows to Capital Market
 |  |  | 0.15 | 0.1251076194426767 | 14309.89188032889 |  | 0.15 | -0.5446788087385279 | 13016.09899379285 |  | 0.15 | 0.2493771016597748 | 15657.4776911333 |  | 0.15 | 2.480507874488832 | 81653.58897255284
 |  |  | 0.2 | 0.1637221686199122 | 19751.53386130365 |  | 0.2 | -0.4901967485286877 | 17036.27859694036 |  | 0.2 | 0.2493771016597748 | 18011.67043223699 |  | 0.2 | 1.810795867443084 | 84007.78171365654
 |  |  | 0.25 | 0.2007670261490067 | 25189.06455692717 |  | 0.25 | -0.4379218160155094 | 21083.07160269288 |  | 0.25 | 0.2493771016597748 | 20365.86317334071 |  | 0.25 | 1.437678229808808 | 86361.97445476026
 |  |  | 0.3 | 0.2365781743267118 | 30658.1826083973 |  | 0.3 | -0.3882967674006294 | 25107.22153839822 |  | 0.3 | 0.2493771016597748 | 22720.05591444443 |  | 0.3 | 1.20334552526474 | 88716.16719586399
 |  |  |  |  |  |  |  |  |  |  | 0.35 | 0.2493771016597748 | 25074.24865554822 |  | 0.35 | 1.043866264820099 | 91070.3599369678
 |  |  |  |  |  |  |  |  |  |  | 0.4 | 0.2493771016597748 | 27428.44139665198 |  | 0.4 | 0.9289000391960145 | 93424.55267807149
 |  |  |  |  |  |  |  |  |  |  | 0.45 | 0.2493771016597748 | 29782.63413775571 |  | 0.45 | 0.8423688530921936 | 95778.74541917522
 |  |  |  |  |  |  |  |  |  |  | 0.5 | 0.2493771016597748 | 32136.82687885944 |  | 0.5 | 0.775024378299713 | 98132.93816027895
 |  |  | Present Value of Cash Flows to Capital Market
 |  |  | Without Turbines
 |  |  |  |  |  | Expected Equity Yield
 |  |  |  |  |  | 0.15 | 0.16 | 0.17 | 0.18 | 0.19 | 0.2 | 0.21 | 0.22 | 0.23 | 0.24 | 0.25 | 0.26 | 0.27
 |  |  |  | Spread over LIBOR | 200 | 16574.10819478472 | 17999.30400771977 | 19439.91958301677 | 20896.16741361505 | 22368.26348700327 | 23856.42735082469 | 25360.88217982186 | 26881.85484413429 | 28419.5759789924 | 29974.28005582547 | 31546.20545482141 | 33135.59453896451 | 34742.69372958092
 |  |  |  |  | 225 | 17182.22118013723 | 18607.41699307232 | 20048.03256836923 | 21504.28039896761 | 22976.37647235574 | 24464.54033617719 | 25968.99516517438 | 27489.96782948676 | 29027.68896434492 | 30582.39304117801 | 32154.31844017388 | 33743.70752431702 | 35350.80671493333
 |  |  |  |  | 250 | 17791.92949950841 | 19217.12531244346 | 20657.74088774035 | 22113.98871833872 | 23586.08479172685 | 25074.24865554822 | 26578.70348454543 | 28099.67614885786 | 29637.39728371604 | 31192.10136054909 | 32764.02675954497 | 34353.41584368807 | 35960.51503430447
 |  |  |  |  | 275 | 18403.23847150536 | 19828.4342844404 | 21269.04985973731 | 22725.29769033568 | 24197.39376372381 | 25685.55762754519 | 27190.01245654244 | 28710.98512085483 | 30248.70625571303 | 31803.41033254604 | 33375.33573154198 | 34964.7248156851 | 36571.82400630143
 |  |  |  |  | 300 | 19016.15343588834 | 20441.34924882333 | 21881.96482412024 | 23338.2126547186 | 24810.30872810672 | 26298.47259192814 | 27802.92742092539 | 29323.90008523773 | 30861.62122009592 | 32416.32529692896 | 33988.25069592491 | 35577.63978006798 | 37184.7389706844
 |  |  |  |  | 325 | 19630.67975366696 | 21055.87556660203 | 22496.49114189895 | 23952.7389724973 | 25424.83504588547 | 26912.99890970684 | 28417.45373870409 | 29938.42640301648 | 31476.1475378746 | 33030.85161470767 | 34602.77701370358 | 36192.16609784666 | 37799.26528846311
 |  |  |  |  | 350 | 20246.82280719957 | 21672.01862013463 | 23112.63419543157 | 24568.88202602985 | 26040.97809941805 | 27529.14196323944 | 29033.59679223662 | 30554.56945654906 | 32092.29059140724 | 33646.99466824032 | 35218.92006723615 | 36808.30915137938 | 38415.40834199564
 |  |  |  |  | 375 | 20864.58800028907 | 22289.78381322412 | 23730.39938852108 | 25186.64721911938 | 26658.74329250754 | 28146.90715632901 | 29651.36198532618 | 31172.33464963856 | 32710.05578449676 | 34264.75986132975 | 35836.68526032569 | 37426.07434446877 | 39033.1735350852
 |  |  |  |  | 400 | 21483.98075828059 | 22909.17657121561 | 24349.79214651255 | 25806.03997711085 | 27278.13605049904 | 28766.29991432044 | 30270.75474331764 | 31791.72740763004 | 33329.44854248823 | 34884.15261932118 | 36456.07801831716 | 38045.46710246024 | 39652.56629307664
 |  |  |  |  | 425 | 22105.00652816106 | 23530.20234109611 | 24970.81791639305 | 26427.06574699138 | 27899.16182037954 | 29387.32568420096 | 30891.78051319817 | 32412.75317751055 | 33950.47431236876 | 35505.17838920177 | 37077.10378819772 | 38666.49287234082 | 40273.59206295718
 |  |  |  |  | 450 | 22727.67077865951 | 24152.86659159454 | 25593.48216689149 | 27049.72999748982 | 28521.82607087796 | 30009.98993469943 | 31514.44476369661 | 33035.41742800896 | 34573.13856286716 | 36127.84263970023 | 37699.76803869613 | 39289.15712283923 | 40896.25631345563
 |  |  |  |  | 475 | 23351.97900034417 | 24777.17481327919 | 26217.79038857608 | 27674.03821917446 | 29146.13429256265 | 30634.29815638401 | 32138.75298538128 | 33659.72564969362 | 35197.44678455187 | 36752.15086138482 | 38324.07626038077 | 39913.46534452391 | 41520.56453514026
 |  |  |  |  | 500 | 23977.93670572231 | 25403.13251865736 | 26843.74809395429 | 28299.99592455263 | 29772.09199794077 | 31260.25586176225 | 32764.71069075939 | 34285.68335507181 | 35823.40448993001 | 37378.10856676298 | 38950.03396575894 | 40539.42304990203 | 42146.52224051842
 |  |  |  |  | 525 | 24605.54942934322 | 26030.74524227831 | 27471.36081757522 | 28927.60864817361 | 30399.7047215617 | 31887.86858538312 | 33392.32341438032 | 34913.29607869277 | 36451.01721355089 | 38005.72129038392 | 39577.64668937992 | 41167.03577352295 | 42774.13496413934
 |  |  |  |  | 550 | 25234.82272789812 | 26660.01854083315 | 28100.63411613014 | 29556.88194672844 | 31028.97802011663 | 32517.14188393804 | 34021.59671293525 | 35542.56937724764 | 37080.29051210585 | 38634.99458893887 | 40206.91998793479 | 41796.30907207794 | 43403.40826269421
 |  |  |  |  | 575 | 25865.76218032096 | 27290.95799325598 | 28731.57356855292 | 30187.82139915128 | 31659.91747253943 | 33148.08133636085 | 34652.53616535809 | 36173.50882967047 | 37711.22996452869 | 39265.93404136164 | 40837.85944035759 | 42427.24852450069 | 44034.34771511704
 |  |  |  |  | 600 | 26498.37338789088 | 27923.56920082598 | 29364.18477612294 | 30820.43260672128 | 32292.52868010943 | 33780.69254393087 | 35285.14737292809 | 36806.12003724044 | 38343.84117209861 | 39898.54524893169 | 41470.47064792761 | 43059.85973207069 | 44666.95892268707
 |  |  | Present Value of Cash Flows to Capital Market
 |  |  | With Turbines
 |  |  |  |  |  | Expected Equity Yield
 |  |  |  |  |  | 0.15
 |  |  |  | Spread over LIBOR | 200 | 82570.21947620428 | 83995.41528913933 | 85436.03086443624 | 86892.27869503453 | 88364.37476842273 | 89852.53863224413 | 91356.99346124135 | 92877.96612555376 | 94415.68726041191 | 95970.39133724498 | 97542.31673624084 | 99131.705820384 | 100738.8050110004
 |  |  |  |  |  | 83178.33246155673 | 84603.52827449181 | 86044.14384978873 | 87500.3916803871 | 88972.48775377523 | 90460.65161759668 | 91965.10644659381 | 93486.0791109063 | 95023.80024576446 | 96578.50432259748 | 98150.42972159339 | 99739.81880573649 | 101346.9179963529
 |  |  |  |  |  | 83788.04078092788 | 85213.23659386295 | 86653.85216915987 | 88110.09999975827 | 89582.19607314633 | 91070.3599369678 | 92574.81476596501 | 94095.78743027739 | 95633.50856513559 | 97188.2126419686 | 98760.13804096455 | 100349.5271251076 | 101956.626315724
 |  |  |  |  |  | 84399.34975292494 | 85824.54556586 | 87265.16114115692 | 88721.40897175523 | 90193.50504514339 | 91681.66890896476 | 93186.12373796199 | 94707.09640227444 | 96244.81753713265 | 97799.52161396557 | 99371.44701296154 | 100960.8360971046 | 102567.935287721
 |  |  |  |  |  | 85012.26471730779 | 86437.46053024285 | 87878.07610553977 | 89334.3239361381 | 90806.42000952626 | 92294.58387334763 | 93799.0387023449 | 95320.01136665727 | 96857.73250151542 | 98412.43657834851 | 99984.36197734447 | 101573.7510614876 | 103180.8502521039
 |  |  |  |  |  | 85626.79103508651 | 87051.98684802157 | 88492.60242331853 | 89948.85025391687 | 91420.94632730502 | 92909.11019112644 | 94413.56502012366 | 95934.53768443601 | 97472.25881929419 | 99026.96289612728 | 100598.8882951232 | 102188.2773792663 | 103795.3765698826
 |  |  |  |  |  | 86242.9340886191 | 87668.12990155422 | 89108.74547685111 | 90564.99330744948 | 92037.0893808376 | 93525.253244659 | 95029.7080736562 | 96550.68073796862 | 98088.40187282678 | 99643.10594965983 | 101215.0313486558 | 102804.4204327988 | 104411.5196234153
 |  |  |  |  |  | 86860.69928170858 | 88285.89509464367 | 89726.5106699406 | 91182.75850053897 | 92654.85457392706 | 94143.01843774851 | 95647.47326674568 | 97168.44593105812 | 98706.16706591629 | 100260.8711427494 | 101832.7965417452 | 103422.1856258883 | 105029.2848165047
 |  |  |  |  |  | 87480.09203970004 | 88905.2878526351 | 90345.90342793205 | 91802.15125853036 | 93274.24733191851 | 94762.41119573994 | 96266.86602473713 | 97787.83868904953 | 99325.55982390774 | 100880.2639007407 | 102452.1892997367 | 104041.5783838798 | 105648.6775744962
 |  |  |  |  |  | 88101.1178095806 | 89526.31362251562 | 90966.92919781257 | 92423.17702841092 | 93895.27310179906 | 95383.43696562048 | 96887.8917946177 | 98408.86445893007 | 99946.58559378827 | 101501.2896706213 | 103073.2150696172 | 104662.6041537603 | 106269.7033443767
 |  |  |  |  |  | 88723.7820600791 | 90148.97787301408 | 91589.59344831099 | 93045.84127890939 | 94517.9373522975 | 96006.1012161189 | 97510.55604511613 | 99031.52870942856 | 100569.2498442867 | 102123.9539211197 | 103695.8793201157 | 105285.2684042588 | 106892.3675948751
 |  |  |  |  |  | 89348.0902817637 | 90773.28609469875 | 92213.90166999567 | 93670.14950059398 | 95142.24557398216 | 96630.40943780355 | 98134.86426680078 | 99655.83693111318 | 101193.5580659714 | 102748.2621428044 | 104320.1875418003 | 105909.5766259435 | 107516.6758165598
 |  |  |  |  |  | 89974.04798714182 | 91399.2438000769 | 92839.85937537381 | 94296.10720597216 | 95768.20327936028 | 97256.36714318172 | 98760.8219721789 | 100281.7946364913 | 101819.5157713495 | 103374.2198481826 | 104946.1452471784 | 106535.5343313216 | 108142.6335219379
 |  |  |  |  |  | 90601.66071076281 | 92026.8565236979 | 93467.4720989948 | 94923.71992959316 | 96395.8160029813 | 97883.97986680269 | 99388.43469579994 | 100909.4073601124 | 102447.1284949705 | 104001.8325718035 | 105573.7579707995 | 107163.1470549426 | 108770.246245559
 |  |  |  |  |  | 91230.9340093176 | 92656.12982225267 | 94096.74539754962 | 95552.99322814794 | 97025.08930153609 | 98513.25316535748 | 100017.7079943547 | 101538.6806586671 | 103076.4017935253 | 104631.1058703584 | 106203.0312693543 | 107792.4203534974 | 109399.5195441137
 |  |  |  |  |  | 91861.87346174053 | 93287.06927467551 | 94727.68484997249 | 96183.93268057081 | 97656.02875395896 | 99144.19261778041 | 100648.6474467776 | 102169.62011109 | 103707.3412459482 | 105262.0453227812 | 106833.9707217771 | 108423.3598059203 | 110030.4589965366
 |  |  |  |  |  | 92494.48466931045 | 93919.68048224552 | 95360.29605754247 | 96816.54388814079 | 98288.63996152897 | 99776.80382535038 | 101281.2586543476 | 102802.23131866 | 104339.9524535182 | 105894.6565303512 | 107466.5819293471 | 109055.9710134902 | 110663.0702041066
"Capital Markets Deal" @ LIBOR + 250
 |  | Expected Equity Yield |  | NPV
 |  |  | 0.15 | 17533.29081466551
 |  |  | 0.16 | 18958.48662760052
 |  |  | 0.17 | 20399.10220289746
 |  |  | 0.18 | 21855.35003349582
 |  |  | 0.19 | 23327.446106884
 |  |  | 0.2 | 24815.60997070537
 |  |  | 0.21 | 26320.06479970256
 |  |  | 0.22 | 27841.03746401497
 |  |  | 0.23 | 29378.75859887325
 |  |  | 0.24 | 30933.46267570618
 |  |  | 0.25 | 32505.38807470211
 |  |  | 0.26 | 34094.77715884523
 |  |  | 0.27 | 35701.87634946161
 |  |  | 0.28 | 37326.93620331218
 |  |  | 0.29 | 38970.2114912523
 |  |  | 0.3 | 40631.96127850557
 |  |  | 0.31 | 42312.44900657437
 |  |  | 0.32 | 44011.94257682542
 |  |  | 0.33 | 45730.71443579085
 |  |  | 0.34 | 47469.04166220813
 |  |  | 0.35 | 49227.20605585149
Enron Deal"
 |  |  |  |  | [NAME] (bps)
 |  |  |  |  | 200 | 300 | 400 | 500 | 600 | 700 | 800
 |  |  | Spread over LIBOR (bps) | 200 | 16450.5903690757 | 18681.99532775342 | 20913.40028643107 | 23144.80524510878 | 25376.21020378645 | 27607.61516246416 | 29839.02012114187
 |  |  |  |  | 17388.45166700736 | 19619.85662568502 | 21851.26158436273 | 24082.66654304044 | 26314.07150171811 | 28545.47646039576 | 30776.88141907347
 |  |  |  |  | 18328.77874569574 | 20560.1837043734 | 22791.58866305111 | 25022.99362172875 | 27254.39858040646 | 29485.80353908411 | 31717.20849776181
 |  |  |  |  | 19271.57984966726 | 21502.98480834497 | 23734.38976702268 | 25965.79472570033 | 28197.19968437804 | 30428.6046430557 | 32660.00960173341
 |  |  |  |  | 20216.86325634114 | 22448.26821501882 | 24679.67317369647 | 26911.07813237418 | 29142.48309105184 | 31373.88804972955 | 33605.29300840723
 |  |  |  |  | 21164.63727617986 | 23396.04223485752 | 25627.44719353523 | 27858.85215221294 | 30090.25711089059 | 32321.6620695683 | 34553.06702824595
 |  |  |  |  | 22114.91025284318 | 24346.31521152084 | 26577.72017019855 | 28809.1251288762 | 31040.53008755391 | 33271.93504623162 | 35503.34000490927
 |  |  |  |  | 23067.69056333839 | 25299.0955220161 | 27530.50048069376 | 29761.90543937147 | 31993.31039804918 | 34224.71535672683 | 36456.12031540454
 |  |  |  |  | 24022.98661817273 | 26254.39157685039 | 28485.7965355281 | 30717.20149420575 | 32948.60645288346 | 35180.01141156111 | 37411.41637023877
 |  |  |  |  | 24980.80686150764 | 27212.21182018535 | 29443.61677886299 | 31675.0217375407 | 33906.42669621841 | 36137.83165489612 | 38369.23661357378
 |  |  |  |  | 25941.15977131598 | 28172.56472999366 | 30403.96968867135 | 32635.37464734903 | 34866.77960602671 | 37098.18456470442 | 39329.58952338211
 |  |  |  |  | 26904.05385953296 | 29135.45881821067 | 31366.86377688838 | 33598.26873556606 | 35829.67369424374 | 38061.07865292142 | 40292.48361159911
 |  |  |  |  | 27869.49767221251 | 30100.90263089016 | 32332.30758956787 | 34563.71254824553 | 36795.11750692324 | 39026.52246560095 | 41257.92742427861
 |  |  |  |  | 28837.49978968675 | 31068.90474836446 | 33300.30970704211 | 35531.71466571982 | 37763.11962439748 | 39994.52458307519 | 42225.9295417529
 |  |  |  |  | 29808.0688267228 | 32039.47378540048 | 34270.87874407816 | 36502.28370275584 | 38733.68866143352 | 40965.09362011121 | 43196.49857878889
 |  |  |  |  | 30781.21343267949 | 33012.6183913572 | 35244.02335003491 | 37475.42830871257 | 39706.83326739028 | 41938.23822606787 | 44169.64318474559
 |  |  |  |  | 31756.94229166686 | 33988.34725034454 | 36219.75220902223 | 38451.15716769991 | 40682.56212637762 | 42913.9670850553 | 45145.37204373301
 |  |  |  |  | 32735.26412270905 | 34966.66908138673 | 37198.07404006441 | 39429.4789987421 | 41660.88395741978 | 43892.28891609743 | 46123.69387477511
 |  |  |  |  | 33716.18767990091 | 35947.59263857862 | 38178.99759725628 | 40410.40255593399 | 42641.80751461164 | 44873.21247328935 | 47104.61743196706
 |  |  |  |  | 34699.72175257113 | 36931.12671124884 | 39162.53166992649 | 41393.93662860421 | 43625.34158728192 | 45856.74654595957 | 48088.15150463728
 |  |  |  |  | 35685.87516544566 | 37917.28012412337 | 40148.68508280102 | 42380.09004147873 | 44611.49500015638 | 46842.8999588341 | 49074.30491751175