Write a note to a financial statement using the information given below. Using the information given, write a short note for the financial statements describing the various parts of the long term debt and the company's future plans for dealing with the debt.

Global Exports Inc.

- Long Term Debt - 12/31/2022

Long term notes payables (4% interest) of $15 million, maturing over next 10 years. 10% of principal is due this year

$20 Million of 7% secured bonds collateralized on buildings, due in 10 years.

$5 Million in 9% debenture bonds, due in 2 years.

$100 million in outstanding 8% term bonds, maturing in 2025

Last year, the company borrowed $5 million at 4% from a related party, payable in 3 years

Plans on redeeming above term bonds by issuing preferred stock

Plans to refinance all outstanding debt with rates over 6% for lower interest notes.

The company is considering raising new capital, either by issuing new bonds or by selling additional common shares.