“So from my perspective what you're seeing today is mostly volatility of FX rates. And then as we go to the bond market in the future at least based on the prevailing rates, I would expect to see net interest start to rise.”

In context

“ctually have no effect on cash because they're intercompany. So when you exclude that I would say our run rate interest number is somewhere in the sort of low-20s to mid-20s right now. And what we have is when you think about our capital structure right now our cash which is earning deposit interest is somewhat close to our variable debt which right now is mostly commercial paper. The rest of our debt is fixed. It's bonds. So what I would anticipate right now is you wouldn't see much of a material change in that until the next bond issuance. And at that point obviously when you do that new bond issuance, you will have a yield in what the prevailing markets are and then that will be layered in. And you essentially will then have certain maturing bonds that might be at lower interest rates. So from my perspective what you're seeing today is mostly volatility of FX rates. And then as we go to the bond market in the future at least based on the prevailing rates, I would expect to see net interest start to rise. Jeffrey Zekauskas: Okay. Thanks so much. Operator: We will now take our next question from David Begleiter from Deutsche Bank. Please go ahead. David Begleiter: Thank you. Back to Slide 4. Sanjiv, how should we think about the returns on these projects? And how is the competition shaping up for these projects? Is it more or less intense on your traditional projects? My first question can we return actually above your normalized rate given the uniqueness of these projects? Sanjiv Lamba: David, as far as we are concerned, these projects have to meet the same investment criteria that we set out. So when we say that we want -- we expect returns to be commensurate with risk there is no free pass for clean energy projects. They have to provide the same return profile that we see vis-a-vis the r”