When do the 2028 and 2032 Notes issued by Caption By Hyatt mature?
Caption_By_Hyatt Franchise · 2025 FDDAnswer from 2025 FDD Document
Interest and Maturity. The 2028 Notes will bear interest at a rate of 5.050% per annum and the 2032 Notes will bear interest at a rate of 5.750% per annum, which will be payable, in each case, semi-annually on March 30 and September 30 of each year, beginning on September 30, 2025. The 2028 Notes will mature on March 30, 2028 and the 2032 Notes will mature on March 30, 2032.
Redemption. At any time prior to February 29, 2028, the Company may redeem some or all of the 2028 Notes at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest plus a "make-whole" amount calculated at the applicable Treasury Rate, plus 20 basis points. At any time prior to January 30, 2032, the Company may redeem some or all of the 2032 Notes at a price equal to 100% of the principal amount of the Notes redeemed plus accrued and unpaid interest plus a "make-whole" amount calculated at the applicable Treasury Rate, plus 25 basis points.
Change of Control. In the event of a Change of Control Triggering Event (as defined in the Indenture), the holders of the Notes may require the Company to purchase for cash all or a portion of the holders' Notes at a purchase price equal to 101% of the principal amount of the Notes purchased plus accrued and unpaid interest, if any.
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Caption By Hyatt's 2025 Franchise Disclosure Document, the 2028 Notes will mature on March 30, 2028, and the 2032 Notes will mature on March 30, 2032. These notes bear interest at rates of 5.050% and 5.750% per annum, respectively, payable semi-annually on March 30 and September 30 of each year, starting September 30, 2025.
Caption By Hyatt has the option to redeem some or all of the 2028 Notes before February 29, 2028, and the 2032 Notes before January 30, 2032. The redemption price would be 100% of the principal amount redeemed, plus accrued and unpaid interest, along with a "make-whole" amount calculated using the applicable Treasury Rate plus 20 basis points for the 2028 Notes and 25 basis points for the 2032 Notes.
Additionally, if a Change of Control Triggering Event occurs (as defined in the Indenture), the holders of the Notes have the right to require Caption By Hyatt to purchase their Notes for cash. The purchase price in such an event would be 101% of the principal amount of the Notes, plus any accrued and unpaid interest.