Brookfield Business Partners L.P. (NYSE:BBU) Q1 2023 Earnings Call Transcript

So if you kind of factor that in, we’re about 80% hedged on the debt that we want to be hedged on. So we’re quite happy with the overall fixed versus float ratio today. And then in terms of sensitivity, I think we had talked about this at Investor Day, and it really hasn’t changed much, but 75 basis point increases in rates is about $60 million, $65 million impact on the business on free cash flow.

Jaeme Gloyn: Okay. And I may have misheard the weighted average interest rate. Did you – could you just repeat that? Because I feel like I heard 7.9%.

Jaspreet Dehl: Yes, that’s right.

Jaeme Gloyn: And it was 4.9% at the Investor Day. Did I…

Jaspreet Dehl: Yes, it was 5%.

Jaeme Gloyn: Yes. Okay. And now it’s almost 8%. Did I – am I getting that apples-to-apples?

Jaspreet Dehl: Yes.

Jaeme Gloyn: Okay, got it. Thank you.

Operator: Thank you. And I’m showing no further questions. So with that, I’ll handle call back over to CEO Cyrus Madon for any closing remarks.

Cyrus Madon: Thank you very much for joining us this quarter and we look forward to speaking to you next quarter. Thank you.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating and you may now disconnect.