MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Effective Interest Rate on Debt % : 4.46% (As of Nov. 2023)

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What is MainStay MacKay DefinedTerm Municipal Opportunities Fund 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. MainStay MacKay DefinedTerm Municipal Opportunities Fund's annualized positive value of Interest Expense for the quarter that ended in Nov. 2023 was $10.09 Mil. MainStay MacKay DefinedTerm Municipal Opportunities Fund's average total debt for the quarter that ended in Nov. 2023 was $226.31 Mil. Therefore, MainStay MacKay DefinedTerm Municipal Opportunities Fund's annualized Effective Interest Rate on Debt % for the quarter that ended in Nov. 2023 was 4.46%.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Effective Interest Rate on Debt % Historical Data

The historical data trend for MainStay MacKay DefinedTerm Municipal Opportunities Fund'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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MainStay MacKay DefinedTerm Municipal Opportunities Fund Effective Interest Rate on Debt % Chart

MainStay MacKay DefinedTerm Municipal Opportunities Fund Annual Data

Trend

May18

May19

May20

May21

May22

May23

Effective Interest Rate on Debt %

Get a 7-Day Free Trial

3.24

2.68

1.11

1.30

2.98

MainStay MacKay DefinedTerm Municipal Opportunities Fund Semi-Annual Data
	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
Effective Interest Rate on Debt %	Get a 7-Day Free Trial								0.77	1.88	2.16	3.80	4.46

Competitive Comparison of MainStay MacKay DefinedTerm Municipal Opportunities Fund's Effective Interest Rate on Debt %

For the Asset Management subindustry, MainStay MacKay DefinedTerm Municipal Opportunities Fund'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.

MainStay MacKay DefinedTerm Municipal Opportunities Fund's Effective Interest Rate on Debt % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, MainStay MacKay DefinedTerm Municipal Opportunities Fund's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where MainStay MacKay DefinedTerm Municipal Opportunities Fund's Effective Interest Rate on Debt % falls into.

MainStay MacKay DefinedTerm Municipal Opportunities Fund Effective Interest Rate on Debt % Calculation

MainStay MacKay DefinedTerm Municipal Opportunities Fund's annualized Effective Interest Rate on Debt % for the fiscal year that ended in May. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: May. 2022 )	+	Total Debt (A: May. 2023 ))	/ count )
=	-1 * -8.787	/	( (326.745	+	262.11)	/ 2 )
=	-1 * -8.787	/	294.4275
=	2.98 %

where

	Total Debt (A: May. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	326.745	+	0
=	326.745

	Total Debt (A: May. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	262.11	+	0
=	262.11

MainStay MacKay DefinedTerm Municipal Opportunities Fund's annualized Effective Interest Rate on Debt % for the quarter that ended in Nov. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: May. 2023 )	+	Total Debt (Q: Nov. 2023 ))	/ count )
=	-1 * -10.094	/	( (262.11	+	190.51)	/ 2 )
=	-1 * -10.094	/	226.31
=	4.46 %

where

	Total Debt (Q: May. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	262.11	+	0
=	262.11

	Total Debt (Q: Nov. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	190.51	+	0
=	190.51

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 two times the semi-annual (Nov. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) Effective Interest Rate on Debt % Explanation

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

MainStay MacKay DefinedTerm Municipal Opportunities Fund Effective Interest Rate on Debt % Related Terms

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MainStay MacKay DefinedTerm Municipal Opportunities Fund (MainStay MacKay DefinedTerm Municipal Opportunities Fund) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » MainStay MacKay DefinedTerm Municipal Opportunities Fund (NYSE:MMD) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

51 Madison Avenue, New York, NY, USA, 10010

Website

https://www.nylinvestments.com

MainStay MacKay DefinedTerm Municipal Opportunities Fund is a USA-based diversified closed-end management investment company. The fund's investment objective is to seek current income exempt from regular U.S. Federal income taxes as well as total return. The company may also invest in TOB (Tender Option Bonds) Floaters and TOB Residuals issued by the TOB Issuer. It evaluates its performance against Barclays Municipal Bond Index.

Executives

Michael Denlinger	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Naim Abou-jaoude	other: CEO, NY LIFE INVEST MGMENT LLC	200 ALDERSGATE STREET, C/O CANDRIAM, NORTH ENTRANCE, LONDON X0 EC1A4HD
Michael Petty	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Alain M Karaoglan	other: Chairman & Interim CEO	230 PARK AVENUE, NEW YORK NY 10169
Kevin M Gleason	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Robert A Dimella	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Scott Sprauer	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Karen Hammond	other: Advisory Board Member	1601 UTICA AVENUE SOUTH, SUITE 900, ST. LOUIS PARK MN 55416
Yie-hsin Hung	other: Executive Vice President	30 HUDSON STREET, JERSEY CITY NJ 07302
Jeffrey S Phlegar	other: CEO of Subadvisor
Yi-chia Kuo	officer: Chief Compliance Officer	30 HUDSON STREET, JERSEY CITY NJ 07302
Nolan Richard H Jr	director	51 MADISON AVENUE, NEW YORK NY 10010
John J Lawlor	other: Portfolio Manager	1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105
Kirk C Lehneis	officer: President	51 MADISON AVENUE, NEW YORK NY 10010
Stephen P. Fisher	officer: President	169 LACKAWANNA AVENUE, PARSIPPANY NJ 07054