How often is interest payable on the outstanding Senior Notes for Caption By Hyatt?
Caption_By_Hyatt Franchise · 2025 FDDAnswer from 2025 FDD Document
| 2026 | 405 |
|---|---|
| 2027 | 605 |
| 2028 | 405 |
| 2029 | 651 |
| Thereafter | 1,285 |
| Total maturities of debt (1) | $ 3,805 |
(1) Excludes $4 million of finance lease obligations and $27 million of unamortized discounts and deferred financing fees.
Senior Notes—Interest on the outstanding Senior Notes is payable semi-annually. We may redeem some or all of the Senior Notes at any time prior to their maturity at a redemption price equal to 100% of the principal amount of the Senior Notes
redeemed plus accrued and unpaid interest, if any, to the date of redemption plus a make-whole amount, if any. The amount of any make-whole payment depends, in part, on the yield of U.S. Treasury securities with a comparable maturity to the Senior Notes at the date of redemption. A summary of the terms of our outstanding Senior Notes, by year of issuance, is as follows:
- In 2013, we issued $350 million of 3.375% senior notes due 2023 at an issue price of 99.498% (the "2023 Notes").
- In 2016, we issued $400 million of 4.850% senior notes due 2026 at an issue price of 99.920% (the "2026 Notes").
- In 2018, we issued $400 million of 4.375% senior notes due 2028 at an issue price of 99.866% (the "2028 Notes").
Source: Item 21 — Financial Statements (FDD pages 84–85)
What This Means (2025 FDD)
According to Caption By Hyatt's 2025 Franchise Disclosure Document, interest on the company's outstanding Senior Notes is payable semi-annually. This means that Caption By Hyatt makes interest payments on these notes twice per year.
Additionally, Caption By Hyatt may redeem some or all of the Senior Notes before their maturity date. The redemption price would be 100% of the principal amount of the Senior Notes redeemed, plus any accrued and unpaid interest up to the redemption date. There may also be a "make-whole" amount included in the redemption price. The amount of any make-whole payment depends, in part, on the yield of U.S. Treasury securities with a comparable maturity to the Senior Notes at the date of redemption.
The 2025 FDD lists several series of senior notes issued by Caption By Hyatt in previous years, with varying interest rates and maturity dates. For example, in 2024, Caption By Hyatt issued an aggregate $600 million of 5.250% senior notes due 2029, $450 million of 5.375% senior notes due 2031 and $350 million of 5.500% senior notes due 2034.