Each tranche pays from the cash left — MIN against the balance, cascade down.
The credit committee sits Thursday and wants the paydown page on this deal. Three facilities — debt layers ranked by who gets paid first — four years, and cash flowing strictly by seniority: the revolver is repaid first, the term loan takes only what the revolver leaves, and the junior layer gets whatever is still on the table, which in the early years is nothing at all. Every facility rolls its balance forward — each year opening where the last one closed — and the page closes on total debt.
Alt walks: tap Alt, release, then the letters in sequence — each key steps one ribbon menu. On a Mac, tap ⌥ and use the same letters (KeyTips, Excel 2024+).
Shift+→⇧→ on macExtend selection one cell
Nudge a selection one cell at a time when the block you need doesn’t end at a data edge.
Shift+↓⇧↓ on macExtend selection one cell
Ctrl+R⌘R on macFill right from the cell to the left
Same as fill down, but across — one quarter’s formula becomes the whole year in two keystrokes.
Ctrl+B⌘B on macBold
Bold marks structure: titles, total rows, anything the reviewer’s eye should land on first.
Alt h b p⌥ h b p on macTop border
Top border above a total row — the accounting ruling that says “this line sums the ones above.”
functions you'll type: MIN() · SUM()
the par-setting sequence, straight through:
C8 =MIN(C7,C5) · C9 =C7-C8 · the same pair down each junior, its MIN netting every senior above it · grab a paydown/ending pair and ctrl+r · openings D7 =C9 · total C19 =C9+C13+C17 · ctrl+b + alt h b p · ctrl+s