1- what factors might have enabled jlr to raise new debt at less than half the coupon rate of interest in 2015, compared with the debt raise in 2011? 2- compute the amount at which existing bondholders might be willing to surrender their holdings. 3- assuming jlr purchased all existing outstanding bonds at the price worked out in q2; work out the incremental cash flows of this bond issue vis-a-vis the original issue. does this financing strategy result in cost savings for jlr? 4- what other benefits, if any, might accrue to jlr as a result of this financing strategy? does this strategy add value to the firm? to the existing bondholders? to jlr’s equity-holders?