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INVERSION

39,480,600.0

PRESTAMO BANCA COMERCIAL DE MXICO


Prstamo
0.2
Cuotas semestrales
Gracia total
Gracia normal
TEA primeras 12 cuotas
TES primeras 12 cuotas
TEA ltimas 12 cuotas
TES ltimas 12 cuotas
Portes y comisiones
Acceso lnea crdito
Seguro de Desgravamen
Cuota primeras 12 cuotas
Cuota ltimas 12 cuotas
Perodo
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24

Cuota
444,632.63
444,632.63
444,632.63
772,062.49
772,062.49
772,062.49
772,062.49
772,062.49
772,062.49
803,511.07
803,511.07
803,511.07
803,511.07
803,511.07
803,511.07
803,511.07
803,511.07
803,511.07
803,511.07
803,511.07
803,511.07

Amortizacin
327,429.86
343,411.34
360,172.85
377,752.47
396,190.13
415,527.72
418,160.17
441,550.21
466,248.59
492,328.48
519,867.17
548,946.26
579,651.90
612,075.08
646,311.87
682,463.71
720,637.73
760,947.04

7,896,120.0
24 cuotas
3 cuotas
3 cuotas
10.0000%
4.8809%
11.5000%
5.5936%
120.00
0.0150
0.0005
772,062.49
772,062.49
803,511.07
Inters
385400.52
404211.48
423940.57
444,632.63
444,632.63
444,632.63
444,632.63
428,651.15
411,889.64
394,310.02
375,872.35
356,534.77
385,350.90
361,960.86
337,262.48
311,182.59
283,643.90
254,564.81
223,859.17
191,435.99
157,199.20
121,047.36
82,873.34
42,564.03

Saldo
7,896,120.00
8,281,520.52
8,685,732.00
9,109,672.57
9,109,672.57
9,109,672.57
9,109,672.57
8,782,242.71
8,438,831.38
8,078,658.53
7,700,906.06
7,304,715.92
6,889,188.21
6,471,028.04
6,029,477.83
5,563,229.24
5,070,900.76
4,551,033.59
4,002,087.33
3,422,435.43
2,810,360.35
2,164,048.48
1,481,584.77
760,947.04
-0.00

Portes+C
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00
120.00

EMISION DE BONOS
Monto de emisin
Valor Nominal
Cotizacin inicial de c/Bono
Valor de lanzamiento Bono
Gastos de Flotacin
Gastos de Colocacin
Gastos de Estructuracin
Prima de redencin
Acceso al NYSE
TEA
TEC
Perodo
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27

Venta Bono
26,162.50

0.0013%
0.0120%
0.0700%
1.0000%
0.0030%

Cupn
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09

5,000,000.00
25,000.00
104.65%
26,162.50
0.34
3.14
18.31
250.00
0.75
5.3000%
1.73634%
Gastos Emis.
21.79

Prima Reden

Acc NYSE
0.75

28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45

434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09
434.09

LEASING FINANCIERO
Valor del Leasing
Cuotas trimestrales
Gracia total
TEA
TET
Comisiones
Opcin de compra
Valor Leasing Ajustado
Cuota Leasing Trim
Perodo
0
1
2
3
4
5
6
7
8
9
10

VN Leasing
4,000,000.00

2%

Cuota Leasing
307,924.98
307,924.98
307,924.98
307,924.98
307,924.98
307,924.98

250.00

4,000,000.00
20
4 trim
7.0000%
1.7059%
55.00
80,000.00
4,280,000.00
307,924.98
Comisin
55.00
55.00
55.00
55.00
55.00
55.00
55.00
55.00
55.00
55.00

Opcin C.

Flujo
-4,000,000.00
55.00
55.00
55.00
55.00
307,979.98
307,979.98
307,979.98
307,979.98
307,979.98
307,979.98

11
12
13
14
15
16
17
18
19
20

307,924.98
307,924.98
307,924.98
307,924.98
307,924.98
307,924.98
307,924.98
307,924.98
307,924.98
307,924.98

55.00
55.00
55.00
55.00
55.00
55.00
55.00
55.00
55.00
55.00

80,000.00
TIR Trim
TIR Anual

PRESTAMO JBIC
Prstamo
Cuotas semestrales
Gracia total
Gracia normal
TEA Gracia total
TES primeras 6 cuotas
TEA Gracia normal
TES segundas 6 cuotas
TEA ltima 18 cuotas
TES ltima 18 cuotas
Portes y comisiones
Acceso lnea crdito
Cuota ltimas 18 cuotas
Perodo
0
1
2
3
4
5
6
7
8
9
10
11
12
13
14

Cuota
43,701.07
43,701.07
43,701.07
43,701.07
43,701.07
43,701.07
292,440.74
292,440.74

307,979.98
307,979.98
307,979.98
307,979.98
307,979.98
307,979.98
307,979.98
307,979.98
307,979.98
387,979.98
1.8255%
7.5043%

4,200,000.0
30 cuotas
6 cuotas
6 cuotas
1.5000%
0.7472%
2.0000%
0.9950%
4.0000%
1.9804%
50.00
120.00
292,440.74
Amortizacin
205,464.98
209,533.99

Inters
43,701.07
43,701.07
43,701.07
43,701.07
43,701.07
43,701.07
86,975.75
82,906.75

Saldo
4,200,000.00
4,231,382.75
4,263,000.00
4,294,853.49
4,326,945.00
4,359,276.30
4,391,849.18
4,391,849.18
4,391,849.18
4,391,849.18
4,391,849.18
4,391,849.18
4,391,849.18
4,186,384.19
3,976,850.20

Portes+C
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00

15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30

292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74
292,440.74

213,683.58
217,915.35
222,230.92
226,631.96
231,120.16
235,697.24
240,364.97
245,125.13
249,979.57
254,930.14
259,978.75
265,127.34
270,377.90
275,732.44
281,193.01
286,761.73

78,757.15
74,525.39
70,209.81
65,808.77
61,320.57
56,743.49
52,075.77
47,315.60
42,461.17
37,510.60
32,461.99
27,313.39
22,062.84
16,708.30
11,247.72
5,679.00

3,763,166.62
3,545,251.27
3,323,020.35
3,096,388.38
2,865,268.22
2,629,570.98
2,389,206.01
2,144,080.88
1,894,101.31
1,639,171.18
1,379,192.43
1,114,065.08
843,687.19
567,954.75
286,761.73
-

50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00
50.00

7,896,120.0
5,000,000.0
4,000,000.0
4,200,000.0
21,096,120.0

0.3743
0.2370
0.1896
0.1991
1.0000

10.5991%
4.9035%
7.5043%
2.6878%

COSTO FINANCIERO DE LA DEUDA


Prstamo Banco Mxico
Bonos
Leasing
Prstam JBIC

EMISION DE ACCIONES
Valor de la emisin
Precio actual de la accin
Dividendo ltimo ao
Incremento Dividendo
Dividendo esperado
Incremen. Accin esper.
Costo Emisin
Riesgo Pas
C.O. Emisin acciones

REINVERSION DE UTILIDADES
Utilidades reinvertidas
T-bond USA

3,500,000.00
15.5
1.3
3.50%
1.3455
3.50%
0.0833%
2.50%
14.6879%

14,884,480.00
3.38%

Rend. S&P 2000


Beta sector
Riesgo pas
C.O. Reinversin Utilidad

9.74%
1.35
2.50%
14.4660%

CALCULO DEL W.A.C.C.


Costo Financiero de la deuda
C.O. Emisin de acciones
C.O. Reinversin Utilidades

21,096,120.0
3,500,000.00
14,884,480.00
39,480,600.00

0.5343
0.0887
0.3770
1.0000

7.0873%
14.6879%
14.4660%

Acceso L.C.
118,441.80

S Desgrav
163.71
171.71
180.09
188.88
198.10
207.76
209.08
220.78
233.12
246.16
259.93
274.47
289.83
306.04
323.16
341.23
360.32
380.47

Flujo
-7,777,678.20
120.00
120.00
120.00
444,752.63
444,752.63
444,752.63
772,346.20
772,354.19
772,362.57
772,371.36
772,380.58
772,390.25
803,840.15
803,851.85
803,864.20
803,877.24
803,891.00
803,905.54
803,920.90
803,937.11
803,954.23
803,972.30
803,991.39
804,011.54
5.1661%

TIR Sem
TIR Anual

Recompra

5.1661%
10.5991%

Flujo
26,139.96
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09

25,000.00
TIR Cuatrim
TIR Anual
TEC
VAN

-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-434.09
-25,684.09
1.6085%
4.9035%
1.60849%
0.00

Acceso L.C.
120.00

Flujo
-4,199,880.00
50.00
50.00
50.00
50.00
50.00
50.00
43,751.07
43,751.07
43,751.07
43,751.07
43,751.07
43,751.07
292,490.74
292,490.74

292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
292,490.74
TIR Sem
TIR Anual

3.9672%
1.1622%
1.4229%
0.5351%
7.0873%

1.3350%
2.6878%

2.6509%
1.3021%
5.4538%
9.4068%