Assume that LKD Energy, Inc., sold a total of $1.25 billion worth of notes and bonds, and the first tranche issue of $300 million in notes has the following terms:

If these notes were called immediately, what price would LKD Energy have to pay to these note holders? To calculate the make-whole call premium of these notes, we need to add 15 basis points to the yield of comparable-maturity U.S. Treasury notes.

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Settlement date: First payment: Maturity: Coupon: Price: Yield: Spread: Make-whole call: Ratings: 7/16/2021 2/1/2022 8/1/2026 5.90% 99.864 5.931% 90 basis points above U.S. Treasury notes 15 basis points above U.S. Treasury notes Baa2 (Moody's); BBB (S&P)