We begin the debt schedule by entering our interest rate assumptions. We first enter the LIBOR curve (obtained from Bloomberg, perhaps), since some types of debt in the capital structure have variable interest rates calculated as a spread over LIBOR. Alternatively, variable interest on some forms of debt might be calculated as a spread over the 10-year Treasury. As you can see from the spreadsheet below, some of the debt we consider here have variable interest rates, while other debt instruments carry fixed rates. Calculation of variable rates is easy–simply add the spread of the LIBOR rate for each projected year.