Shareholder Loan
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Shareholder Loans
Shareholder Loans are loans with "economic equity nature". This means they are considered subordinated compared to other cashflow positions. Therefore they are part of the Equity Payout in the Cashflow statement. Only the tax advantage because of interest effects from Shareholder Loans has an influence on the "Equity IRR" (Cashflow to Equity) while the redemption logic only influences the subordinated "Payout IRR" (Payout).
Compare the similar parameters from Debt Tranches.
| Input Field | Description | Value | Presetting | ||||||
|---|---|---|---|---|---|---|---|---|---|
Name | Shareholder Loan name | Free text | "Shareholder Loan" + Index | ||||||
Driver | The available drivers per section are listed on the following page: Driver | Selection | Fix | ||||||
Value | Input of a value proper to the selected driver. | Value in combination with driver | 0 | ||||||
Issuance Date | The Shareholder Loan Issuing Date is set with a Date Choice Box. For example: "Issuing at Transaction", this means Transaction + 0 months. When the Issuing is before the Transaction Date (TRX), the book value is calculated automatically per Transaction Date as corrected Value per Transaction. The entered month corresponds to the last day of this month. For example: A Due Date 01 /2015 means that the Issuing occurs per 01.31.2015 and the corresponding interest and reimbursements are calculated effective from 02.01.2015. | Date Choice Box | Transaction | ||||||
Redemption Period | Periods in years in which the Redemption is applied. Redemption Free Periods are subtracted from the effective Redemption Period, because both periods are measured since Issuing Date. For Example: Issuing per 01 / 2015, Redemption Period 2 years and Redemption Free Period 12 months, this means the loan is issued on the 01.31.2015 and the redemption is applied from 02.01.2016 till 01.31.2017. | Years since Issuing Date | 0 Years | ||||||
Redemption Mode | The following Redemption Modes are available:
| Selection | |||||||
Interest for Annuity Calculation (Redemption Mode = Annuity) | Interest input in % or bps for the Annuity Redemption calculation. This interest rate is only used for the calculation of the redemption amounts and not for the actual interest payments. | % | 0 | ||||||
Redemption Free Period | Redemption Free Months/Years since Issuing Date. | Months since Issuing Date | 0 Months | ||||||
Redemption Frequency | Frequency of the Redemptions since Issuing Date in Months/Years. For example: "quarterly", this means every 3 months. Compare the same logic in Payment Frequency at Methods of Payment. | Months | monthly | ||||||
Interest | Annualized interest rate (nominal) which is executed on the Shareholder Loan of the previous period (this means after redemption of the previous period respective before redemption of the actual period). The interest charge is defined by the Method of Payment allocation (Interest) for the fixed Interest Period since Issuing Date. For periods afterwards the Longterm Interest Rate is used. The Interest is composed by the Base Rate and the Margin:
| Percent nominal per year or bps | 0% | ||||||
Interest Period Fixed | Valid Period of the interest rate. For periods afterwards the Longterm Interest Rate is used.
Fixed Interest Period = 0 A fixed interest period of Debt Tranches or Shareholder Loans of 0 years and a longterm interest rate of 0% can lead to an unintended errors! The interest according to the Debt Tranche or Shareholder Loan is in this case 0% despite a different interest input of for example 4% because in this case, the longterm interest rate of 0% is adopted after the fixed interest period of 0 years. | Years since Issuing Date | 0 | ||||||
Method of Payment (Interest) | Selection of the Method of Payment which is used for Interest payments:
| Method of Payment allocation | None |
Calculation
Shareholder Loans affect the Shareholder Loan calculation.