Linear Redemption

Debt Tranches and Shareholder Loans have to be redeemed. Therefor a Redemption Frequency and a Redemption Free Period is defined. When the Redemption Free Period expires the Debt/Shareholder Loan is redeemed during the Loan Period in regular intervals according to the Redemption Frequency.

When Debt with an amount of EUR 2'000'000, a Loan Period of 10 years, 24 months Redemption Free Period and a Redemption Frequency of 3 months is issued in 12 / 2015, the following Cashflow statement yields from this Debt and the connected Redemptions:

	∑	12.2015	01.2016	...	03.2016	04.2016	05.2016	06.2016	07.2016	08.2016	...	09.2025	10.2025	11.2025	12.2025
Redemption	0	2'000'000	0	...	-62'500	0	0	-62'500	0	0	...	-62'500	0	0	-62'500

The Redemption occurs within 8 years respective 96 months. Thus a monthly Redemption of EUR 20'883 is necessary. Based on the quarterly Redemptions, an amount of EUR 62'500 has to be redeemed every third month.

Annuity Redemption

When the debt is redeemed per annuity, the annual sum of Redemption amounts and Interest payments build a constant value. The Interest expense decline from year to year because the debt is getting less too. Therefore the Redemption amount has to increase to get an annuity Redemption.

The Annuity amount can be calculated with the following formula:

When Debt with an amount of EUR 2'000'000, a Loan Period of 10 years, 24 months Redemption Free Period and a Redemption Frequency of 3 months is issued in 12 / 2015, an annuity redemption amount of annually EUR 304'86 or quarterly EUR 76'216 yields.

	∑	12.2015	...	03.2016	...	03.2018	06.2018	09.2018	...	12.2025
Issuing	2'000'000	2'000'000	...	0	...	0	0	0	...	0
Redemption	-2'000'000	-2'000'000	...	0	...	-51'216	-51'856	-52'504	...	-75'275
Interest	-638'906	0	...	-25'000	...	-25'000	-24'360	23'712	...	-941
Sum		2'000'000	...	-25'000	...	-76'216	-76'216	-76'216	...	-76'216

Bullet Redemption

When Bullet Redemption is selected as Redemption Mode the whole loan is redeemed at the end of the loan period.

When Debt with an amount of EUR 2'000'000 and a Loan Period of 10 years is issued in 12 / 2015, the whole amount of EUR 2'000'000 is redeemed in 12 / 2025.

	∑	12.2015	01.2016	...	03.2018	04.2016	05.2016	06.2016	07.2016	08.2016	...	09.2025	10.2025	11.2025	12.2025
Redemption	0	2'000'000	0	...	0	0	0	0	0	0	...	0	0	0	-2'000'000

Profit & Loss statement	Interest x Shareholder Loan.Balance Sheet(t-1)
Cashflow statement	The Shareholder Loan is issued at Start Date and is payed back during the Redemption Period depending on the Redemption Mode.
Balance Sheet

Shareholder Loan calculations

Inputs

Calculation

Profit & Loss statement

Cashflow statement

Balance Sheet