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TortoiseEcofin Acquisition III (TortoiseEcofin Acquisition III) Effective Interest Rate on Debt % : 19.82% (As of Mar. 2024)


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What is TortoiseEcofin Acquisition III 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. TortoiseEcofin Acquisition III's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was $0.35 Mil. TortoiseEcofin Acquisition III's average total debt for the quarter that ended in Mar. 2024 was $1.76 Mil. Therefore, TortoiseEcofin Acquisition III's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 19.82%.

TortoiseEcofin Acquisition III Effective Interest Rate on Debt % Historical Data

The historical data trend for TortoiseEcofin Acquisition III'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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TortoiseEcofin Acquisition III Effective Interest Rate on Debt % Chart

TortoiseEcofin Acquisition III Annual Data
Trend Dec21 Dec22 Dec23
Effective Interest Rate on Debt %
- - 1.60

TortoiseEcofin Acquisition III Quarterly Data
Feb21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only - - - 8.77 19.82

Competitive Comparison of TortoiseEcofin Acquisition III's Effective Interest Rate on Debt %

For the Shell Companies subindustry, TortoiseEcofin Acquisition III'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.

TortoiseEcofin Acquisition III's Effective Interest Rate on Debt % Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, TortoiseEcofin Acquisition III's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where TortoiseEcofin Acquisition III's Effective Interest Rate on Debt % falls into.


TortoiseEcofin Acquisition III Effective Interest Rate on Debt % Calculation

TortoiseEcofin Acquisition III'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  *  -0.025/( (0+1.565)/ 1 )
=-1  *  -0.025/1.565
=1.60 %

where

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

Total Debt  (A: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1.565 + 0
=1.565

TortoiseEcofin Acquisition III's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: Dec. 2023 )+Total Debt  (Q: Mar. 2024 ))/ count )
=-1  *  -0.348/( (1.565+1.947)/ 2 )
=-1  *  -0.348/1.756
=19.82 %

where

Total Debt  (Q: Dec. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1.565 + 0
=1.565

Total Debt  (Q: Mar. 2024 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=1.947 + 0
=1.947

* 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.

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 four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

TortoiseEcofin Acquisition III  (NYSE:TRTL) Effective Interest Rate on Debt % Explanation

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

TortoiseEcofin Acquisition III Effective Interest Rate on Debt % Related Terms

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TortoiseEcofin Acquisition III (TortoiseEcofin Acquisition III) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » TortoiseEcofin Acquisition Corp III (NYSE:TRTL) » Definitions » Effective Interest Rate on Debt %
Comparable Companies
HCVI CCVI SLAM NETD CXAC NFNT APGB KCGI SAGA DWAC PBAJ SVMB SCRM CVII AAC GHIX ALCC AACT LSE:ADMR CNDA
Traded in Other Exchanges
N/A
Address
6363 College Boulevard, Overland Park, KS, USA, 66211
Website
https://www.tortoisespac.com
TortoiseEcofin Acquisition Corp III is a blank check company.
Executives
Andrew B Lipsher director C/O VOLTA INDUSTRIES, INC., 155 DE HARO STREET, SAN FRANCISCO CA 94103
Hennessy Capital Growth Partners Fund I Spv V, Llc 10 percent owner 195 US HWY 50, SUITE 208, ZEPHYR COVE NV 89448
Hennessy Capital Growth Partners Fund I, Lp 10 percent owner 3415 N. PINES WAY, SUITE 204, WILSON WY 83014
Matthew Schindel director 195 US HWY 50, SUITE 208, ZEPHYR COVE NV 89448
Tortoiseecofin Sponsor Iii Llc 10 percent owner 5100 W. 115TH PLACE, LEAWOOD KS 66211
Thomas D Hennessy director, 10 percent owner 3485 N. PINES WAY SUITE 110, WILSON WY 83014
Jack Leeney director 3485 N. PINES WAY SUITE 110, WILSON WY 83014
Greg A Walker director 999 CORPORATE BOULEVARD, SUITE 300, LINTHICUM HEIGHTS MD 21090
Darrell Jr. Brock officer: Vice President 725 FIFTH AVENUE, 19TH FLOOR, NEW YORK NY 10022
Juan J. Daboub director 5100 W. 115TH PLACE, LEAWOOD KS 66211
Stephen S. Pang director, officer: President and CFO 5100 W. 115TH PLACE, LEAWOOD KS 66211
Evan J. Zimmer officer: Vice President 5100 W. 115TH PLACE, LEAWOOD KS 66211
Mary Beth Mandanas director 5100 W. 115TH PLACE, LEAWOOD KS 66211
Steven C. Schnitzer officer: VP, Gen. Counsel and Secretary 725 FIFTH AVE., 19TH FLOOR, NEW YORK NY 10022
William J. Clinton director 5100 W. 115TH PLACE, LEAWOOD KS 66211