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  "documentTitle": "Citi | Investment Banking Pitch Book | 17 slides",
  "authorId": "citi",
  "authorName": "Citi",
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  "presentationDate": "2019-11-01 00:00:00",
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  "notes": "Includes detailed footnotes explaining the methodology for calculating unlevered asset beta and target capital structure.",
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      "text": "The low end of the WACC is based upon the low end of the equity market risk premium (5.5%) and the high end of the net debt / total capital ratio. The high end is based on the high end of the equity market risk premium (6.7%) and the low end of the capital structure.",
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      "text": "Source: Company filings, Bloomberg, AER and AL market data as of November 4, 2019. Europa market data as of October 23, 2019, the day prior to Europa's announcement of strategic alternatives.",
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      "text": "Cost of Equity-Related Metrics table",
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