Practice Drills: Comparing Corporate Bond vs Bank Loan Financing Costs

A practice-first course for treasury teams, growth-stage founders, and corporate strategy professionals who have to answer one recurring question: should we borrow from the bank or issue bonds? The headline rate on a sanction letter and the coupon on an NCD term sheet are never the real cost. You will drill every layer that sits between them and the number that matters: MCLR, EBLR and T-Bill linked resets, processing fees, prepayment charges, margin money and collateral, arranger and rating fees, stamp duty, trustee and listing costs, rating-driven spreads over G-Secs, and the EBP platform route for private placements. Then you will bring both options onto one footing with XIRR, post-tax cost, cash flow profile and refinancing risk, and weigh the non-price costs such as covenants and flexibility. Every drill uses Indian instruments, rupee figures, and the documents an Indian finance team actually works from.