Dear Sir
A company took ECB in FY2011-12 on different dates. As per agreement interest payable on annual basis LIBOR + 300 basic points. As LIBOR do change on day to day basis, in this case which LIBOR should be used by borrower to provide interest on closing of accounting year.
a. LIBOR of date of closing of accounting year
b. LIBOR of getting ECB
c. LIBOR of date of agreement
Thanks & Regards,
Ashish
dear asish,
i think avg rate of LIBOR can be taken. i am not absolutely sure about it.
cheers
ganesh agarwala
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