MINTome Fund (MINTome Fund) Effective Interest Rate on Debt % : 10.52% (As of Dec. 2023)

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What is MINTome Fund Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. MINTome Fund's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $1.61 Mil. MINTome Fund's average total debt for the quarter that ended in Dec. 2023 was $15.27 Mil. Therefore, MINTome Fund's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 10.52%.

MINTome Fund Effective Interest Rate on Debt % Historical Data

The historical data trend for MINTome Fund's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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MINTome Fund Effective Interest Rate on Debt % Chart

MINTome Fund Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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2.35

0.88

1.39

1.95

8.49

MINTome Fund Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															1.44	1.91	1.61	-	10.52

Competitive Comparison of MINTome Fund's Effective Interest Rate on Debt %

For the Asset Management subindustry, MINTome Fund's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

MINTome Fund's Effective Interest Rate on Debt % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, MINTome Fund's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where MINTome Fund's Effective Interest Rate on Debt % falls into.

MINTome Fund Effective Interest Rate on Debt % Calculation

MINTome Fund's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -0.803	/	( (3.681	+	15.226)	/ 2 )
=	-1 * -0.803	/	9.4535
=	8.49 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	3.681	+	0
=	3.681

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	15.226	+	0
=	15.226

MINTome Fund's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Jun. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -1.606	/	( (15.317	+	15.226)	/ 2 )
=	-1 * -1.606	/	15.2715
=	10.52 %

where

	Total Debt (Q: Jun. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	15.317	+	0
=	15.317

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	15.226	+	0
=	15.226

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is two times the semi-annual (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

MINTome Fund (GREY:MICFF) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

MINTome Fund Effective Interest Rate on Debt % Related Terms

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MINTome Fund (MINTome Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » MINT Income Fund (GREY:MICFF) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

MID.UN:Canada

Address

First Canadian Place, 58th Floor, P.O. Box 192, Toronto, ON, CAN, M5X 1A6

Website

https://www.middlefield.com

MINT Income Fund is a closed-end investment trust. The fund's investment objectives are to produce a high level of sustainable income and to minimize the risk of investing in high-income securities on a cost-effective basis. Primarily, it invests in a diversified portfolio of securities consisting of the equity of issuers operating in various industries and geographic regions. Additionally, the fund invests in various sectors, including real estate, financials, pipelines, industrials, healthcare, energy, consumer discretionary, preferred shares, corporate debt, consumer staples, technology, utilities, and metals and mining.

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