Suppose GENERAL MILLS issued 1,250,000 bonds with the per value of $1000 and a coupon rute of 3.8% on June 1, 2021 Tha bunds include At par vakar semi-ainual coupon payments and are due on May 31, 2031. If the effective interest rate at issuance was 4%, now much captal was the Company able to raise? in millons Round your answer to the two decimal poces.

Suppose GENERAL MILLS issued 1,250,000 bonds with the per value of $1000 and a coupon rute of 3.8% on June 1, 2021 Tha bunds include At par vakar semi-ainual coupon payments and are due on May 31, 2031. If the effective interest rate at issuance was 4%, now much captal was the Company able to raise? in millons Round your answer to the two decimal poces.

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter8: Analysis Of Risk And Return

Section: Chapter Questions

Problem 9P

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Suppose GENERAL MILLS issued 1,250,000 bonds with the par value of $1000 and a coupon rate of 3.8% on June 1, 2021. The bonds include semi-annual coupon payments and are due on May 31, 2031. If the effective interest rate at issuance was 4%, how much capital was the Company able to raise? (in millions; Round your answer to the two decimal places.)
Answer the second question
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